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China takes No.1 spot in this list too: Nations that produce maximum gold, 2020

Gold mining is a global business with operations on every continent, except Antarctica, and gold is extracted from mines of widely varying types and scale. Gold is one of the rarest elements in the world, making up roughly 0.003 parts per million of the earth’s crust. But how much gold is the world digging up each year and what countries produce the most?

While gold by itself does not produce any economic value, it is an efficient tool to hedge against inflation and economic uncertainties.

India is the second largest consumer of this precious metal. But where does it stand in terms of production?

Here’s a breakdown of the top gold producing countries in the world, as of 2020, which demonstrates the geographical dispersion of gold mining operations and gold supply.

Reference source: https://www.gold.org/goldhub/data/historical-mine-production, http://www.usfunds.com/, https://www.freepressjournal.in/

Image: Getty