According to the World Gold Council (WGC), the volume of gold produced globally has steadily increased in the last four years, rising by 12%. The US Geological Survey put the volume of global gold production at 3,000 metric tons (MT) last year (2023) with a contribution of about US$38.0bn directly and indirectly to host nations.
Gold has come to stay as a major commodity amid its rising significance as a safe haven asset with prices skyrocketing globally, climbing to US$2,468.40 per troy ounce in June 2024.
