Global gold supply comprises mine production and gold recycling. Total global supply increased by 5% to 4,570.8 tonnes in 2016 compared to 4,363.1 in 2015. The growth was mainly due to a significant increase in recycled gold production and doubling of net producer hedging.
Mine production remained on the same level in 2016 of 3,236.0 tonnes compared to 3,233.0 tonnes in 2015. According to U.S. Geological Survey, China retained its leading position among the global gold mine producing countries in 2016. Australia and Russia held their second and third places respectively.
Net producer hedging grew to 26.3 tonnes, which is 95% higher than in 2015 as producers saw an opportunity to secure cash flow at higher prices.
Gold supply, tonnes
|2016||2015||YoY Change, %|
|Net producer hedging||26.3||13.5||95|