World mine reserves of gold by country 2019

This statistic illustrates the world mine reserves of gold as of 2019, by country. In that year, the United States was estimated to have some three thousand metric tons of gold reserves in mines. Thus, the U.S. was within the top group of countries based on mine reserves of gold. Australia is estimated to have the largest gold mine reserves worldwide.

The impact of gold

Australia and South Africa hold a large share of the world’s gold mine reserves, accounting for 10,000 metric tons and 5,300 metric tons, respectively. Worldwide, the production of gold reached some 3,300 metric tons in 2019. China currently produces about 13 percent of the world’s gold.

Gold is known for its bright lustrous yellow color and was often used as a monetary standard in the past. It is a precious metal mostly used in jewelry, for investments, and in coinage. India manufactured a large share of the world’s gold jewelry, totaling 618 metric tons in 2012. In fact, jewelry accounted for most of the world’s gold, totaling 1,908 metric tons in 2012. The United States holds about 74.5 percent of its total monetary holdings as gold reserves; Switzerland holds about 6.1 percent of its holdings as gold. This transition metal is also valued for its ductile, malleable, and non-reactive characteristics. Thus, it is also used industrially, often as electrical connectors, infrared shielding and colored-glass protection. The price of gold can vary, it reached a recent low in the early 2000s at 279 U.S. dollars per troy ounce in 2000 and increased to a high of 1,669 U.S. dollars per troy ounce in 2012. As of 2016, the average price of gold was 1,250.74 U.S. dollars per troy ounce.

World mine reserves of gold as of 2019, by country (in metric tons)*

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Source

Release date

February 2020

Region

Worldwide

Survey time period

2019

Supplementary notes

* All figures are estimated.

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