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Precious Metals Industry - Statistics & Facts

Precious metals, such as gold, silver and platinum, are among the most valuable commodities worldwide. The value of the materials is determined by their relative scarcity. In 2018, about 400 metric tons of gold were produced in China, the world's largest producer of gold. To put this into perspective, the production of crude steel reached a staggering 1.8 billion metric tons in the same year.

Silver is both the most abundant and the most affordable precious metal. In 2020, Silver prices are projected to hover around 21.5 U.S. dollars per ounce. At a projected 1,568 U.S. dollars per ounce in 2020, the price of platinum is expected to be significantly higher, making it the most expensive metal in this group.

The major producing countries for precious metals include Russia, the United States, Canada, South Africa and China. With a production volume of around 5.52 million ounces, Colorado-based Newmont Goldcorp was the world’s leading producer of gold in 2018. In the same year, Mexico's Fresnillo topped the list of silver producers, while Anglo American was ranked as the leading platinum producing company worldwide in 2018.

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Precious metals

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Precious Metal Consumption

Precious Metal Prices

Focus: Gold

Focus: Silver

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