Gold - Statistics & Facts

Published by M. Garside, Jul 2, 2019
Gold has always been one of the world’s most precious and coveted metals. Rarity is the primary reason for its value. Estimates on global reserves are not much higher than 54,000 metric tons. The countries with the largest estimated reserves are Australia, South Africa, and Russia. Approximately 3,260 metric tons of gold was produced worldwide in 2018. Currently, China is the world’s leading producer of gold, followed by Australia and Russia.

Among gold mining companies, Barrick Gold from Canada is the global leader, with a production output of 5.32 million ounces in 2017. Barrick Gold announced revenue figures of 7.2 billion U.S. dollars for 2018. In the same year, the company had an average realized gold price per ounce of 1,267 U.S. dollars. Newmont Mining from the U.S., and AngloGold Ashanti from South Africa are the next largest gold producers. M&A activities in the gold mining sector are very vibrant. Taking all mining and metal deals into account for 2017, gold was the most targeted commodity, both by value and number. In April 2019, for example, Newmont and Goldcorp completed a merger which rendered the newly formed Newmont Goldcorp the largest gold mining company in the world.

As the fourth largest global gold producing country, the United States produced about 210 metric tons in 2018. Nevada is by far the U.S. state with the highest gold production. Seven out of the top ten U.S. gold mines are located in Nevada. The United States reported that its gold consumption came to some 145 metric tons in 2018. The United States has the largest gold reserves of any country worldwide. As of March 2019, approximately 8,407 metric tons of gold was held by the United States.

Over the last decade, global demand for gold has increased constantly, sitting at 4,345 metric tons in 2018. This has of course influenced the global price of gold. Gold reached an annual average price of almost 1,269 U.S. dollars in 2018. To put that figure into context, the price stood at some 271 U.S. dollars in 2001. This makes it clear that gold is still one of the world’s most coveted commodities and most rewarding investments.

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