Current Largest Gold Producing Countries of the World

Largest Gold Producing Countries of the World

Following are four (4) largest gold producing countries, producing more than 40% of the gold out of 2990 MT (producing by the whole world). Some decades before they were not appearing in the map of largest gold producers but recently they are the leader of the gold market. These countries significantly affect the price of gold. They had largest gold reserves, and underground unmined gold. Though there are some countries of the world who claim to have huge gold reserves but there is no authentic proof of it.

China: As per the survey of 2014, China produced 450 Metric tons gold which is 15% of the rest of the world (that is 2,990 MT). Of course, china had a large territory, it has more mines than any other country of the world, still a huge amount of gold underground that is around 1,900 tons, and had around 1762 ton gold reserves, and ranked on the sixth number. Therefore, china influence the International gold market, and can drive gold price up or down. The demand for gold in china also increasing day by day and a big percentage of gold are using in jewelry.

Australia: The next largest gold producer is Australia as according to a survey of 2014, a whole continent that comprises of huge territory producing around 274 metric tons of gold. Perth is very rich in gold, and Australia most of the gold is mined from this area. Having the reserve of around 90 tons and on the 38th number. Australia is the country having the largest underground gold reserve is 7400 tons that are far greater than China, and the biggest exporter of gold that is around 14 billion dollar.

Russia: It producing 247 metric tons of gold that are closer to Australia, and 3rd number in the list of largest gold producing countries. In January 2016, its gold reserves reached to 1414 tons and on 7th number in the list of most gold reserves. Russia does not export a huge amount of gold but import to increase the reserves. Around 5,000 tons are underground and unmined.

United States: The gold production of U.S has increased recently, and in 2014 US produced around 211 Metric ton of gold. Its largest gold producing area is Nevada. The US has the largest gold reserves of 8,133 tons that are largest in the world. US also has the credit to have the largest gold vaults, located in New York, having gold of other countries of the world that is 25% of the gold vaults of whole world, most of them are gold of reserve banks of around 49 countries, its mass is more than 6000 tons, these vaults are underground and at safe place, most the gold came here after World War II. The US alone had around 9000 own gold reserves in vaults of Federal Reserve and Treasury Department.