馃 GEOPOLITICS: MAIN GOLD PRODUCING COUNTRIES 馃
The demand for gold is expected to grow in the coming years, due to its use in jewelry, investment, and technology. This is likely to lead to increased production of gold in the future. The desire to support any new currency to counterbalance to the d贸lar. Gold physical will be required, not only gold papel (futures contracts), because futures is still controlled by Central Banks and some Western VIPs [ What could happen if the gold standard returns? ]. Thus, together with silver, this metal will be a trend for decades to come. In addition to the above, the uses of gold are technology, dentistry and art. Iin 2022, according to the World Gold Council, the top 25 was:
Rank | Country | Metric tones (MT) | % Accumulated
1 China 400 15% 15%
2 Australia 312 12% 27%
3 Russia 282 11% 38%
4 United States 253 10% 47%
5 Canada 193 7% 55%
6 Peru 126 5% 60%
7 Mexico 109 4% 64%
8 Ghana 99 4% 67%
9 Indonesia 94 4% 71%
10 Burkina Faso 85 3% 74%
11 South Africa 80 3% 77%
12 Colombia 73 3% 80%
13 Uzbekistan 70 3% 83%
14 Argentina 62 2% 85%
15 Mali 55 2% 87%
16 Dem. Rep. of the Congo 51 2% 89%
17 Madagascar 45 2% 91%
18 Bolivia 40 2% 92%
19 Zimbabwe 38 1% 94%
20 Tajikistan 32 1% 95%
21 Namibia 29 1% 96%
22 Guinea 28 1% 97%
23 Gabon 27 1% 98%
24 Mongolia 25 1% 99%
25 Ivory Coast 23 1% 100%
From the total, only ± 29% is controlled by a openly pro-USA bloc (USA, Canada and Australia), the ± 71% is controlled by the rest, which common thing is not to love the American Pax due to decades of exploitation and interventionism. In fact, a pro-China bloc could manage the ± 50% of total production, where the BRICS controls the ± 31%.
LATAM has the ± 19% and Africa the 24% of total. This means that if is considering some LATAM, Africa and Asian countries as a neutral, they could control the ± 19%. However, the metal has been a classic along decades, so, any country can be considered as a neutral if the purpose is to secure any supply.
Finally, based on a 3-year sample with weekly data from ETF, the correlation of gold with uranium is ± 38%, with oil ± 19%, with natural gas ± -12%, with silver 80%, with copper 48%, with lithium 28% and with SP500 25%. Gold is linked mainly with silver or copper due to jewellery, monetary or another industrial porpoise.
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J. Joel Padilla
Copyright: Joel Padilla 2023
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