RESEARCH has found that in the lead up to Valentines day internet searches for “gold jewellery” increase by 95%.
The findings of the data also revealed that China produced the most amount of gold every year.
Researchers have also said that they expect the global expansion of golf mining to stop very soon.
Analysts claim that your gold jewellery can be traced back to several countries that produce the most gold.
China top the list with 370 tonnes produced every year closely followed by Australia at 320 tonnes.
Russian creates 300 tonnes of of the precious metal commodity from there they are followed by Canada who produce 200 tonnes.
The USA produced 189 tonnes last year with Ghana and South Africa falling into the 100 tonne markers with 106 and 101 tonnes respectively.
At the bottom of the list Peru and Mexico sit tied at just under 100 tonnes with 98 tonnes of gold a piece.
Experts at research group CRU estimate that this is set to change in the coming years.
China will still be producing the most amount of gold in 2025 400 tonnes the likes of Australia and Mexico will be producing less of the commodity five years down the line, 214 and 91 tonnes respectively.
The demand for gold around the world is varied; out of the 2,920 tonnes of gold that was produced in 2020, 1,343 tonnes of this was fabricated purely for the creation of jewellery, with China demanding the most with 470 tonnes, while Western Europe had the lowest demand at just 40 tonnes.
irill Kirilenko, Senior Analyst at CRU Group said:“CRU analysts anticipate the current expansion cycle in global gold mining to end soon, not only because of the natural thinning of the project pipeline, but due to the appearance of exogenous drivers such as tighter environmental regulations in major producing countries which will also have a negative impact on growth prospects for gold globally.”
“However, the world is unlikely to run out of gold any time soon; not only because most of the metal used is subsequently recovered, but also because of the massive above-ground stocks that have been accumulated since the dawn of civilisation. In other words, there is a piece of gold for everyone. The only question is the price one is willing to pay,” said K
