10 Largest Gold Producing Countries in the World

Today we are going to read about the 10 largest gold producing countries in the world. We have brought up with a brief compilation from Insider Monkey’s article. You may have wondered why gold has so much importance since the ancient ages. Well, it’s easily malleable and tensile, it looks glamorous, and of course it’s rare. What’s more, human beings like to possess things that no-one else does. Having gold means that the country has power, too. That’s why you will see the most powerful countries on this list. The other reason why gold is important for a country, that it means stability for the country. If people find the market uncertain they start to sell their stocks and purchase gold, because of its stability.

Now, in 2020 the United States has a nearly $4 trillion budget deficit, and isn’t able to print enough dollars, therefore they are creating dollars electronically. Actually, the States already had a deficit of $1 trillion even before the coronavirus, but as we can see it has become even worse since then. Consequently personal and corporate taxes have grown, whose name is well-known: inflation. That’s why predictions say that gold may hit its highest price ever since September, 2011.

Gold production of the United States decreased from 2018 to 2019 by 11%. In 2019the value of gold production was around $9 billion, and only 12 states from the 50 are involved in gold production, while Alaska produces most of the gold. Therefore, the United States have to import gold from other countries, such as Canada and Mexico.