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Gold

What is gold used for ?

Gold is used in a lot of different sectors. According to the World Gold Council (WGC), the average total annual demand for gold in the world was 4 282 tonnes between 2008 and 2017. The average annual supply between 2008 and 2017 was met by mining production (2 893.2 tonnes) and recycling (1 413.5 tonnes), for a total of 4 306.7 tonnes.
The 4 282 tonnes of gold demanded in the world was used at 2 233 tonnes (52.1%) for jewelry, 1 177 tonnes (27.5%) for bar and coins , 384 tonnes (9.0 %) by the technology sector (mainly electronic), 147 tonnes (3.4%) ETFs and similar products and 341 tonnes (8.0%) by central banks.

Gold price

Gold Monthly Price in US Dollars per Dry Metric Ton

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Gold (UK), 99.5% fine, London afternoon fixing, average of daily rates

Source: World Bank

Producers countries in the world

Rank	Country	Production by country in 2019 (metric tons)
1	Other countries	800
2	China	420
3	Australia	330
4	Russia	310
5	United States	200
6	Canada	180
7	Indonesia	160
8	Ghana	130
9	Peru	130
10	Mexico	110
11	Kazakhstan	100
12	Uzbekistan	44
13	South Africa	90
14	Brazil	85
15	Argentina	72
16	Papua New Guinea	70

Source: United States Geological Survey (USGS) Minerals Resources Program

Map of the Gold production by country

Map with the major Gold deposits in the world

Gold reserves by country

Rank	Country	Reserves by country in 2019 (metric tons)
1	Other countries	10 000
2	Australia	10 000
3	Russia	5 300
4	South Africa	3 200
5	United States	3 000
6	Indonesia	2 600
7	Brazil	2 400
8	Peru	2 100
9	China	2 000
10	Canada	1 900
11	Uzbekistan	1 800
12	Argentina	1 600
13	Mexico	1 400
14	Ghana	1 000
15	Kazakhstan	1 000
16	Papua New Guinea	1 000

Source: United States Geological Survey (USGS) Minerals Resources Program