The “sweat of the sun” and a sacred gift from Incam sun god Inti, gold has always been connected with divine powers and wealth. It has been discovered in archaeological finds dating back 6,500 years, where it was used as adornment, or a symbol of rank and status.
Except for being a financial asset, gold is the heart of the jewelry industry. Look around at people; we bet most of them wear gold accessories, which proves that this metal hasn’t lost its popularity and significance since ancient times. Its versatility and qualities allow this metal to be used in modern technology, dentistry, and even space exploration, making it one of the most valuable natural resources known to humankind.
But where does all gold come from? A natural resource gifted by the earth is extracted from mines scattered across the globe, though its deposits are anything but evenly distributed. We are sure you will be surprised what countries have the richest gold deposits. Let’s explore the leading gold-producing nations together.
China

View of the legendary wall of China
And another global list was topped by China. It has been dominating as the world’s leading gold producer since 2007. Most of its gold production comes from the Shandong province, strategically located between Beijing and Shanghai. Approximately one-fifth of the nation’s output is controlled by the state-owned China Gold Group. In 2024, the largest gold deposit in the world was unearthed in the Land of the Red Dragon — estimated to be worth more than $80 billion.
Australia

Australia’s local celebrities in their natural habitat
By land area, Australia is the sixth largest country, but when it comes to in-ground gold resources, it truly shines, claiming the top spot with an impressive 12,000 metric tons. The country’s leading gold-producing state is Western Australia, where almost 70% of the gold originates from. In one year (2022/2023), gold mining in Australia helped the country earn AU$24 billion. Northern Star Resources, a leading gold mining company on the continent, plans to acquire De Grey Mining for $5 billion to access its valuable gold assets, particularly the Hemi Gold Project. This may influence the whole sector greatly.
Russia

St. Basil’s Cathedral on the Red square, Moscow, Russia
Russia’s gold mining industry thrives thanks to the country’s rich and diverse mineral resources, with major sites in Siberia and the Far East. A significant portion of this gold—about two-thirds—has been purchased by the Russian government, making it the biggest local consumer. However, after the full-scale invasion of Ukraine, international sanctions have put pressure on Russia’s economy, so it had to use the country’s large gold reserves to hedge against inflation.
Canada

Fog over Niagara Falls in Canada
It may be extremely surprising, but Canada has no gold reserves. The government and central bank implemented a strategy to diversify and modernize the country’s foreign reserves, so Canada sold off its remaining gold holdings by 2016. However, the country is rich in gold resources, and its annual output of gold production is 170.6 metric tons with Ontario, specifically the Red Lake gold mine, and Quebec being the major players. These two provinces represent more than 70 percent of the state’s gold output.
United States

Gold-Free Statue of Liberty at Sunset
The United States produces about 170 metric tons of gold annually from its mines. Nevada is the top state for production of the yellow metal, 73% comes from its mines. Thirteen percent of the nation’s total production comes from Alaska, making it the second leading state. About 8,000 metric tons of gold reserves are kept at different highly secure facilities, including the most famous, Fort Knox.
Kazakhstan

Wooden Orthodox Ascension Cathedral, Almaty City, Kazakhstan
A review of the 10-year period from 2013 to 2023 reveals that Kazakhstan boosted its gold reserves by 151 metric tons, placing it among the top ten nations most actively expanding its gold reserves. Large investment in the industry, including from foreign companies, resulted in the annual production of 130 metric tons of gold by the mines. In December 2024, Kazakhstan’s state balance reported an addition of 522 MT to its gold reserves.
Mexico

Ancient pyramids of the Monte Alban archaeological site in Oaxaca, Mexico
Mexico has a long history of gold mining, starting from the 1500s when the Spanish came to Central America, mainly looking for gold and silver. Today, this country has less strict rules and low regulatory costs for companies that want to explore and mine for this precious metal. Mexico is one of the top leaders in gold production, annually extracting about 120 metric tons. Gold and other precious metals make up half of all the metals produced in the country.
Indonesia

Agung volcano at sunrise, Bali island, Indonesia
The Grasberg Mine in Indonesia is among the world’s largest gold and copper mines, which is owned by Freeport-McMoRan in collaboration with the Indonesian government. In 2023, it produced about 52.9 metric tons of gold. The mine has been criticized for its bad impact on the environment and the way it handles waste from its mining operations. Indonesia produced around 110 metric tons of gold and is responsible for 3,5% of global gold supply.
South Africa

Iconic Cape Point in Cape Town, Western Cape, South Africa, located within Table Mountain National Park
South Africa is the leading gold producer on the continent, extracting approximately 190 metric tons of gold annually. Gold mining is the country’s largest industry, playing a crucial role in its economy. The world’s largest known gold resource, the Witwatersrand Basin, is located in the heart of South Africa. Mining began in that area in the late 19th century and has since produced vast quantities of gold, accounting for approximately 22% of all the gold ever mined.
Uzbekistan

Kalyan Mosque in Bukhara, Uzbekistan
For the last decade, gold mining in Uzbekistan has been very stable, with an annual production of 100 metric tons. The 1950s marked the beginning of the state’s gold mining because massive deposits of the yellow metal were discovered at Muruntau gold mine, which is now operated by Navoi Mining and Metallurgical Company. The site is among the largest gold operations in the world, holding 4,500 MT. Much of the country’s gold is owned by the government and utilized for various national purposes.