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The Precious Metal Derivatives market in Western Africa is experiencing a notable surge in interest and activity.
Customer preferences: Investors in Western Africa are increasingly turning to Precious Metal Derivatives as a way to diversify their portfolios and hedge against market volatility. The allure of potentially high returns and the ability to trade without owning the physical assets are driving this shift in customer preferences.
Trends in the market: One prominent trend in the Western African Precious Metal Derivatives market is the growing adoption of online trading platforms, making it easier for investors to participate in the market. Additionally, there is a rising demand for innovative derivative products tailored to the specific needs of investors in the region.
Local special circumstances: Western Africa's unique position as a region rich in natural resources, including gold and other precious metals, plays a significant role in shaping the local Precious Metal Derivatives market. The proximity to key mining activities and the cultural significance of precious metals contribute to the market's development.
Underlying macroeconomic factors: The economic stability and growth potential of Western African countries are key macroeconomic factors driving the expansion of the Precious Metal Derivatives market. As investors seek alternative investment opportunities in a region with promising prospects, the market is poised for further growth and development.
Data coverage:
Figures are based on commodity derivatives, their notional value, the number of contracts traded, the open interest (outstanding contracts at the end of a year), and the average value of a contract.Modeling approach / Market size:
Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use market research & analysis, and data of World Bank, as well as the World Federation of Exchanges. Furthermore, we use relevant key market indicators and data from country-specific associations and national data bureaus such as GDP, wealth per capita, and the online banking penetration rate. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. In this market, we use the HOLT-damped Trend method to forecast future development. The main drivers are GDP per capita an the online banking penetration rate.Additional Notes:
The market is updated twice per year in case market dynamics change.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)