Gold has always been the pillar of global wealth and while we all know that this alluring yellow metal doesn’t grow on trees, there are regions in the world where veins of gold were discovered centuries ago. Despite its obvious rarity, approximately 3,000 tonnes of gold are mined each year and we all know about the 1930’s American gold rush, which lasted 7 years, when San Francisco in California was the primary region where gold was being discovered.
Because of the increased global production through the years, many people have become interested in adding gold to their investment portfolio. Generally, there are many ways to own gold. If you’re an investor, you can invest in this precious metal through gold futures, mining stocks, gold bullion, and gold exchange-traded funds (ETFs). But, aside from them, gold can also be used as an investment asset for retirement. For instance, if you’re planning your retirement, you can invest in gold through a gold individual retirement account (IRA). It’s a self-directed IRA that allows you to own gold bullion. To get started, it’s important to choose the best from various gold IRA companies online.
On the other hand, if you want to invest in gold without any hassle, you need to assure yourself that gold is here to stay for a long time with the help of gold-producing countries worldwide. Here is a list of the top gold-producing nations and a little about their operation.
- China – It might surprise you to learn that China has topped the global gold production list for a few years already. Last year, for example, China produced more than 420 tonnes of gold, which is way more than any other nation. The Chinese implement cutting-edge technology in their gold mining facilities, so you can expect them to stay at the top of list for the coming future.
- Australia – The Land Down Under made it into second place with just under 300 tonnes of gold mined last year. A gold dealer in Brisbane reminded us that the world-famous Argyle Mine is no longer producing, so this might affect the country’s gold production. This mine was set up in the 1960s and produced most of the world’s best pink diamonds and as agreed when the mine was set up, production ended in November 2020 and a plan to restore the area was implemented. With a quick Google search for a reputable dealer in the area, you can buy gold bullion Brisbane has on offer.
- Russia – As you would expect, Russia is one of the largest gold producers, with approximately 275 tonnes produced in 2020 and mining consortiums are searching for more productive regions in this huge country and if they get lucky, they could overtake the Chinese as the leading producer of gold.
- United States Of America – Around 230 tonnes of gold were produced by US mines in 2020 and while we know there is gold in certain wilderness regions, the cost of mining it is prohibitive. For the last few years, Nevada has produced a large portion of the US tally, with a mini gold rush and the signs are promising that this could lead to rich veins of gold. The southern states are more likely to have gold producing areas and with new technology for gold detection, mining companies are searching.
- Canada – It is no secret that all the top gold producing countries are the one with largest areas and as you would expect, Canada produced around 235 tonnes of gold last year. Due to the glaciers melting, they are discovering more gold producing regions in British Columbia and other parts of the northern section of the country. Many experts predict that gold production will increase for this very reason and at the time of writing this article, there are teams of prospectors looking for new seams.
Global Gold Production Facts to Know
Generally, gold will remain popular in the investment world because it’s valuable, rare, and a finite resource. It’s one of the precious metals used to diversify and reduce the financial risks associated with other investment assets. This means that its value isn’t directly affected by some economic downturns, including inflation.
That being said, several major countries have continued to produce tons of gold for investment and other industrial uses. For example, if you are thinking of taking your wealth out of the stock market and into gold, simply Google an established gold bullion dealer and make an appointment when you can take possession of your gold.