Gold has re-emerged as one of the top asset classes of 2024, having risen by 12% year to date and shattered multiple records along the way. It is now well on track for its best year since 2020.
The yellow metal has largely benefited from the heightened uncertainty in the global economy, namely recession fears and geopolitical risks, which in turn are driving up demand.
In light of its rising significance as a safe haven asset, gold’s supply must also keep pace with the demand. The world’s production of gold has steadily gone up over the last four years, according to the World Gold Council.
Most of the gold production comes from a small number of companies that have been in the mining business for decades. Below, we list out the top 10 gold mining companies in the world based on their 2023 outputs*
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