Gold is one of the most precious metals on Earth which have a great economically value. Why this metal is so valuable? because it's one of the rarest metal on earth and its mining cost is high. From the age of old day's (emperor ages) gold is used for trading as it always hold an economical value.
Question is, are we reached at peak of gold? Let discuss about it in details.
As per report of GFMS Gold Survey 2018 in 2017 golf production have been reduced for 5 tonnes than it's previous year. It may be the reason of high cost of gold, crackdown of illegal gold mines and environmental condition. As it's the one of the most rarest metal found from earth crust, gold miner's have to dig dipper to collect more golds.
Top 10 Gold production country and net mined gold
- China – 426 tonnes
- Australia – 295.1 tonnes
- Russia – 270.7 tonnes
- United States – 230.0 tonnes
- Canada – 175.8 tonnes
- Peru – 162.3 tonnes
- Indonesia – 154.3 tonnes
- South Africa – 139.9 tonnes
- Mexico – 130.5 tonnes
- Ghana – 101.7 tonnes
Now Gold market is also saturated, after the 2008 price hike gold, we till in downward trend, lets see what happen.
Source :- http://www.usfunds.com/investor-library/frank-talk/top-10-gold-producing-countries/