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Affected by the pandemic, gold prices broke through an all-time high of $2,000/oz in 2020, briefly improving
the profitability of gold producers.
However, compared to 2019, the lockdowns caused by the pandemic have weakened global gold production
.
Total global gold production reached 3,241 tonnes in 2020, down 3%
from 3,300 tonnes mined in 2019.
This brings the total global gold stock to 201,296 tonnes, held by jewelers, central banks and investors
.
Although gold mining is a global business, three countries alone, China, Australia and Russia, accounted for 31%
of global gold production in 2020.
The largest producer of gold in 2020 was China, with 380 tonnes, accounting for 11.
7% of the global total; followed by Australia, with an output of 320 tons, accounting for 9.
9%; Russia produces 300 tons, accounting for 9.
3%.
Affected by the pandemic, gold prices broke through an all-time high of $2,000/oz in 2020, briefly improving
the profitability of gold producers.
However, compared to 2019, the lockdowns caused by the pandemic have weakened global gold production
.
Total global gold production reached 3,241 tonnes in 2020, down 3%
from 3,300 tonnes mined in 2019.
This brings the total global gold stock to 201,296 tonnes, held by jewelers, central banks and investors
.
Although gold mining is a global business, three countries alone, China, Australia and Russia, accounted for 31%
of global gold production in 2020.
The largest producer of gold in 2020 was China, with 380 tonnes, accounting for 11.
7% of the global total; followed by Australia, with an output of 320 tons, accounting for 9.
9%; Russia produces 300 tons, accounting for 9.
3%.
