With the rise in the price of gold as a safe haven asset as a result of the increase in tensions in the Middle East, reaching a new record, US$2,685,It is relevant to know which countries concentrate the production of this metal that is appreciated more every day.
According to the annual gold report of the United States Geological Survey, Usgs, China, Australia and Russia are the countries that produced the most gold in 2023. In fact, China has 12% of total global production.
On the list of the largest producers highlighted by Usgs there are only three Latin American countries. Mexico with 120 metric tons in 2023, then Peru with 90 and Brazil with 60.From North America there is Canada with 200 tons and the United States with 170 tons.
China’s gold mines are concentrated in eastern provinces such as Shandong, Henan, Fujian and Liaoning, their production reached 370 metric tons in 2023 of the 3,040 estimated in the world. While there are estimated 3,000 tons of gold mine reserves in this country, which represents almost 5% of the global total of 59,000 tons.
Even having the highest production, China was the largest buyer of the metal with the acquisition of 225 tons by the Central Bank last year, according to the report of the World Gold Council.
