TOP 5 GOLD PRODUCING COUNTRIES
For centuries, gold has been an ongoing commodity sought after by both the rich and poor. Throughout history the metal has been synonymous with power, wealth, beauty and accomplishment, a constant leader in the precious metals industry that has set the bar for the investment purposes, and a contributing factor to a country’s economy. The element is presently mined on every continent with the exception of Antarctica, on which mining is illegal. In total there are 95 gold mining countries around the world with 15 mining companies extracting slightly over half of the total production.
With gold being used in everything from jewelry, electronics, medicine, bullion, coins, to bathroom fixtures, it’s easy to understand why there is a high demand to not only buy and sell gold in Seattle, WA., but also in the modern world.
Here are the Top 5 Gold Producing Countries to date:
- Peru: Recently knocking South Africa out of the top 5, Peru is the only other country from the Americas on the list, in addition to the United States. Currently, Peru is producing 169.3 tonnes, slightly more than South Africa, which is now
producing around 164.5 tonnes. Peruvian gold is some of the most difficult to reach due to many of the mines being located high on the mountaintops of the Amazon. Intense labor and disruption of the surrounding Amazon, added to the difficultly until recently.
- USA: The second of the leaders from the Americas saw a 12% decrease taking them out of their #3 position. Many US mines are scattered across the full length of the country with the most productive being in Nevada, ironically just outside of Las Vegas, as well as Montana, Arizona and California. In total the USA produced about 200.4 tonnes in 2014 alone.
- Australia: Australia has been sitting cozy within the top 3 for some years now and doesn’t appear to be going anywhere anytime soon. While Australia experienced a 1% increase, its output saw 269.7 tonnes in 2014. Mines tend to be concentrated in Western Australia, specifically near Perth, with the largest open mine affectionately named Golden Mile.
- Russia: Taking a giant leap from the #4 spot to #2, Russia experienced a 9% increase in output, bringing its grand total to 272 tonnes. Occupying 1/6 of the earth’s landmass, Russia still has quite a bit of exploration to do within its own country in terms of gold. Beneath the frozen tundra is where most of the natural treasure is believed to lie.
- China: Taking the #1 spot is China. China had seen substantial year after year growth and in this past year alone experienced a 6% increase, bringing its output to a whopping 465.7 tonnes. Gold mining has made a significant impact on the country’s wealth and has brought a percentage of the population out of poverty. The major gold region is the midpoint between Beijing and Shanghai in the Shandong Province.
Gold will forever be the most cherished, sought after of all the precious metals due to its various uses. Through the years it will be interesting to see which country fluctuates, rises or holds its ground for the Top 5 from around the world.
For further information, please stop by any Bellevue Rare Coins location during store hours. One of our highly knowledgeable and trained staff members will be more than happy to assist you in your quest to find the best way to sell gold in Seattle, WA!