2011 has been a momentous year for gold, with increases in the price of gold, investments, and gold production. Countries all around the world have been producing gold at a increasing rate throughout the year. China and India have been especially prominent figures in the gold market and have established new heights in record buying gold. Gold production remains one of the most important reasons behind all the important gold events of the year, and many of the top producers of gold have seen important changes over time.
China- China has become the world’s number one producer of gold with 345 tonnes of gold produced this year. Unlike many other countries that are declining in gold production as the price of gold rises to catch up with economic value, China is planning on producing even more gold and predicts up to 400 tonnes in gold production for next year.
South Africa- Known historically as a top producer of gold, South Africa’s gold production has actually declined as China has taken the spotlight in production. South Africa has seen an 80% drop in gold production within the last 40 years. Although South Africa’s production has been in decline, it is still historically considered one of the largest gold producers amongst the general population.
Russia- Russia has become slightly more interested in gold purchases as it tries to compete with India and China. Russia plans to purchase large amounts of gold in the upcoming years, although its current production of gold has remained generally unchanged at about 190 tonnes.
Canada- Canada produced over 166 tonnes of gold in 1964, well under Russia’s current average. However since the 60s, gold production in Canada has remained below the 166 tonnes mark. In 2010 they produced only 90 tonnes of gold.
The U.S- The production of gold in the U.S is currently well above the averages of many of the top gold producing countries and only slightly below Australia and China each the respective second and top producers of gold in the world. Although the U.S has not produced as much gold as it did in the past, the nation currently produces a healthy 230 tonnes of gold.
These are the top gold producing countries in the world; however many other smaller countries also produce gold such as Colombia, Kazakhstan, Mali, Mexico, Chile, and many more.