Surging gold prices are boosting revenues for the world’s leading gold-producing countries after the precious metal climbed to a record high of $5,589.38 per ounce in January 2026.
The rally has been driven by strong central bank purchases, lower interest rates, geopolitical tensions, and global trade uncertainty.
According to the United States Geological Survey, global gold production reached 3,300 metric tons in 2025, up slightly from the previous year.
- China – 380 metric tons
- Russia – 310 metric tons
- Australia – 280 metric tons
- Canada – 200 metric tons
- United States – 160 metric tons
- Ghana – 150 metric tons
- Mexico – 140 metric tons
- Kazakhstan – 130 metric tons
- Uzbekistan – 129 metric tons
- Peru – 110 metric tons
China retained its position as the world’s largest gold producer, while Ghana remained Africa’s leading producer, with gold exports hitting a record $20 billion in 2025.
Australia continues to hold the world’s largest gold reserves, estimated at 13,000 metric tons, followed closely by Russia.
With economic uncertainty and geopolitical tensions persisting, analysts expect gold-producing countries to continue benefiting from elevated prices throughout 2026.
Credit: Vanguard
