Global gold supply to grow by 3.6% in 2021
The global gold supply in 2021 is projected to grow by 3.6% to 4,788 thousand tons amid growing production of the precious metal in Australia, the United States and Canada, according to a report by the Australian Government's Department of Industry, Science, Energy and Resources (DISER).
So, in Australia, growth will be 7.7% to 353 tons, in Canada - 24% to 224 tons, and in the USA - by 6.5% to 212 tons due to the recovery of production after disruptions due to COVID a year earlier .
Latin America is also expected to recover gold production this year, including 14% to 121 tons in Mexico, 15% to 100 tons in Peru and 3.4% to 90 tons in Brazil.
Gold production in China will decline 2.2% to 356 tonnes this year amid increasingly stringent environmental regulations leading to the closure of mines.
According to DISER, the world produced 851 tons of gold in the first quarter, up 4.2% from a year earlier.