A record amount of gold was mined in 2025, and for the first time global demand passed 5,000 tonnes in a single year. This article sets out both sides of the picture, supply and demand, using World Gold Council figures, and explains what the gap between the two tells a trader about price.
Supply: a record year for mining
Mine production reached a record of about 3,672 tonnes in 2025. China is the largest producer. Mining output tends to change slowly, because opening a new mine takes years and existing mines cannot simply ramp up when the price rises. That makes supply the steadier side of the equation, and it is why demand usually drives the bigger moves.
Demand: past 5,000 tonnes for the first time
Global gold demand passed 5,000 tonnes for the first time in 2025, worth around $555 billion. Demand comes from several places: jewellery, central banks, investors in bars, coins and ETFs, and industry. When demand runs well ahead of newly mined supply, the difference is met from existing above-ground stock, and the price does the work of balancing the two.
What it means for the price
With mine supply around 3,672 tonnes and demand above 5,000, 2025 was a year in which buyers wanted considerably more gold than was freshly produced. That kind of imbalance supports price, which fits the strong year gold had. For a trader the point is simpler: supply and demand set the long-run direction, while day-to-day moves still need a stop-loss and a sensible lot size. Figures come from the World Gold Council and other named sources, correct at time of writing.
Key takeaways
- Mine production hit a record of about 3,672 tonnes in 2025
- China is the world's largest gold producer
- Demand passed 5,000 tonnes, worth around $555 billion
Common questions
How much gold is mined each year?
In 2025, mine production reached a record of about 3,672 tonnes, according to the World Gold Council.
Which country produces the most gold?
China is the largest gold producer in the world.
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