China and the global gold rush

Five charts to start the day

In the world of finance and geopolitics, gold still gleams with timeless appeal. Fresh data on 2024 production shows established mining giants holding their lead while emerging economies steadily gain ground.

China tops the chart with 380 metric tonnes, followed by Russia at 310 and Australia at 290. Together they produce almost 40 percent of the output among the 18 major gold-producing nations. Add Canada’s 200 and the United States’ 160, and just five countries control more than half of the total.

Yet Africa’s collective power is hard to ignore. Ghana (130), South Africa (100), Mali (70), Tanzania (60) and Burkina Faso (60) together churn out 420 metric tonnes, more than any single country. This matters because gold is far more than an economic trinket – it’s geopolitical leverage.