The country with the most gold is the United States, with 8,133 metric tons in the American
The Welcome Stranger is the largest alluvial gold nugget found, which had a calculated refined weight of 97.14 kilograms (3,123 ozt). Three of the biggest nuggets come from the Brazilian Serra Pelada Mine.
Australia is estimated to have the world's largest gold reserves, with 9,500 tonnes or 17 per cent of the total world estimated gold reserves of 57,000 tonnes.
Australia and Russia hold the largest reserves of gold
Australia and Russia hold a large share of the world's gold mine reserves, accounting for 8,400 metric tons and 6,800 metric tons, respectively. Worldwide, the production of gold reached an estimated 3,100 metric tons in 2022.
China may invade Taiwan, or it may not. Either way, there is financial uncertainty. Precious metals are the counterbalance to that uncertainty. Russia, China, Brazil, Egypt, India, Turkey, Qatar, and many other countries are stockpiling gold to overthrow the Dollar and ensure sovereignty.
China has recently considerably ramped up its gold imports, in an effort to diversify the People's Bank of China's (PBOC) holdings, as well as reduce their reliance on the US dollar (DXY).
My estimate for Chinese private reserves in 2022 is nearly 24,000 tonnes, divided by 1.4 billion people (the Chinese population in 2022), equals 17 grams per capita. China's non-monetary gold reserves are close to the global average.
There are both open-cut and underground gold mines in Australia but most of Australia's gold production comes from open-cut mines. Earth-moving equipment is used to remove waste rock from above the ore body and then to mine the ore.
No country in the world has 100 percent pure gold with absolutely no other alloys added—a goal that's virtually impossible to achieve, given how soft this precious metal is in its natural form. The purest type of gold available is 999.99.
Some of the veins produce up to one quarter of an ounce of gold per ton of rock. What makes Dahlonega gold so different from other gold found around the world is the purity. Dahlonega has the purest gold in the world, which is 98.7 percent pure.
Alluvial deposits in Victoria were formed by weathering and erosion of primary gold mineralisation. The largest alluvial deposits are typically close to major orogenic gold deposits (e.g. Ballarat, Bendigo and Castlemaine).
Leading markets for gold exports from Australia FY 2022
China was the leading export destination for Australian gold in terms of value.
Now fully owned by Newmont Goldcorp, the mine reopened in 2009 after a major expansion project that increased the throughput to become Australia's largest gold mine.
An Australian man armed with a budget metal detector has hit the jackpot, finding a 4.6kg rock containing gold worth A$240,000 (£130,000; $160,000). The man, who doesn't want to be named, made the discovery in Victoria's goldfields - which were the heart of Australia's gold rush in the 1800s.
The country with the purest gold in the world is Switzerland, a country known for paying attention to quality. Below, the precious metals experts from First National Bullion and Coin, the best place to buy gold in Scottsdale, explain why this particular country has an affinity for pure gold.
Golden Eagle Nugget: 1,135oz. Discovered by 17-year-old Jim Larcombe at Larkinsville, Western Australia in January 1931 and named due to its resemblance to the majestic bird.
The purity of gold bought from Dubai is superior compared to other countries. Moreover, Dubai's gold market is much more organized, controlled and regulated. Thus, purchasing gold is much safer in Dubai as compared to other countries.
Using the millesimal fineness scale, 999.999 is the purest gold ever made. This was produced by the Perth Mint in 1957. Commonly referred to as six nines fine, it has since been used by The Royal Mint and around the world as the ultimate yardstick for gold purity.
Hong Kong. Hong Kong is the country with the cheapest gold in the world. Banks are plentiful here with competitive premiums on gold coins – making investing easy to do without breaking the bank. There are several places you can buy physical gold in Hong Kong.
Mount Whaleback Mine in Western Australia, was the largest mine in Australia, producing approximately 88.8 million metric tons per annum (mmtpa) of Run-of-Mine (ROM) in 2021. The Mount Whaleback Mine is owned by BHP;Mitsui & Co Ltd;Itochu Corp, and is due to operate until 2037.
While that gold rush saw the extraction of thousands of tonnes of gold from Victorian soil, there is still plenty left.
As part of Australia's official reserve assets, the Reserve Bank holds an amount of gold.
However, Russia's share in Chinese gold purchases remains small. The main supplier of gold to China is Switzerland, with sales in 2021 totaling over US$34 billion. Rounding out the top five suppliers to China are Canada, South Africa, Australia, and Hong Kong.
About 244,000 metric tons of gold has been discovered to date (187,000 metric tons historically produced plus current underground reserves of 57,000 metric tons). Most of that gold has come from just three countries: China, Australia, and South Africa.