Source: United States Geological Survey
GOLD STATISTICS By Kenneth E. Porter and Earle B. Amey [All values in metric tons (t) unless otherwise noted] Last modification: November 4, 2003
Click here for definition of terms
| Year | Primary production | Secondary production | Imports | Exports | Shipments | Apparent consumption | Unit value ($/t) | Unit value (98$/t) | World production |
| 1900 | 120 | 33.2 | 609,000 | 11,900,000 | 386 | ||||
|---|---|---|---|---|---|---|---|---|---|
| 1901 | 120 | 35.9 | 610,000 | 11,900,000 | 395 | ||||
| 1902 | 122 | 41.7 | 609,000 | 11,400,000 | 451 | ||||
| 1903 | 114 | 43.7 | 609,000 | 11,000,000 | 496 | ||||
| 1904 | 122 | 43.1 | 608,000 | 11,000,000 | 526 | ||||
| 1905 | 133 | 50.0 | 607,000 | 11,000,000 | 575 | ||||
| 1906 | 146 | 58.9 | 608,000 | 11,000,000 | 608 | ||||
| 1907 | 132 | 61.3 | 609,000 | 10,600,000 | 623 | ||||
| 1908 | 138 | 54.2 | 63.0 | 47.4 | 609,000 | 11,000,000 | 668 | ||
| 1909 | 150 | 57.7 | 62.1 | 56.6 | 609,000 | 11,000,000 | 687 | ||
| 1910 | 143 | 73.9 | 4.67 | 62.9 | 608,000 | 10,600,000 | 689 | ||
| 1911 | 146 | 62.1 | 9.87 | 61.4 | 608,000 | 10,600,000 | 699 | ||
| 1912 | 140 | 74.9 | 40.0 | 66.2 | 609,000 | 10,300,000 | 705 | ||
| 1913 | 135 | 63.6 | 70.3 | 69.0 | 608,000 | 10,000,000 | 694 | ||
| 1914 | 139 | 41.7 | 79.4 | 54.4 | 610,000 | 9,900,000 | 663 | ||
| 1915 | 150 | 99.0 | 3.36 | 54.4 | 616,000 | 9,890,000 | 704 | ||
| 1916 | 140 | 794 | 42.1 | 75.3 | 623,000 | 9,300,000 | 685 | ||
| 1917 | 123 | 628 | 136 | 75.9 | 629,000 | 8,000,000 | 631 | ||
| 1918 | 102 | 83.0 | 12.4 | 79.8 | 635,000 | 6,870,000 | 578 | ||
| 1919 | 85.6 | 75.1 | 184 | 115 | 641,000 | 6,040,000 | 550 | ||
| 1920 | 74.1 | 517 | 58.9 | 120 | 660,000 | 5,370,000 | 507 | ||
| 1921 | 72.9 | 808 | 5.56 | 72.9 | 662,000 | 6,030,000 | 498 | ||
| 1922 | 71.3 | 310 | 8.46 | 85.2 | 667,000 | 6,490,000 | 481 | ||
| 1923 | 74.8 | 316 | 30.1 | 101 | 664,000 | 6,350,000 | 554 | ||
| 1924 | 76.0 | 329 | 0.410 | 97.5 | 665,000 | 6,340,000 | 592 | ||
| 1925 | 71.8 | 170 | 160 | 92.1 | 664,000 | 6,180,000 | 591 | ||
| 1926 | 69.4 | 140 | 14.7 | 94.8 | 663,000 | 6,110,000 | 602 | ||
| 1927 | 65.5 | 159 | 82.7 | 85.5 | 664,000 | 6,240,000 | 597 | ||
| 1928 | 66.8 | 176 | 628 | 85.1 | 665,000 | 6,330,000 | 603 | ||
| 1929 | 64.0 | 264 | 164 | 85.6 | 663,000 | 6,310,000 | 609 | ||
| 1930 | 66.5 | 111 | 114 | 64.2 | 662,000 | 6,470,000 | 648 | ||
| 1931 | 69.2 | 299 | 581 | 43.9 | 723,000 | 7,740,000 | 695 | ||
| 1932 | 72.5 | 408 | 1,080 | 30.3 | 665,000 | 7,940,000 | 754 | ||
| 1933 | 71.7 | 219 | 127 | 20.7 | 847,000 | 10,700,000 | 793 | ||
| 1934 | 86.4 | 1,050 | 46.9 | 12.7 | 1,120,000 | 13,600,000 | 841 | ||
| 1935 | 101 | 1,470 | 1.70 | 23.0 | 1,120,000 | 13,300,000 | 924 | ||
| 1936 | 118 | 1,010 | 24.5 | 29.3 | 1,120,000 | 13,200,000 | 1,030 | ||
| 1937 | 128 | 1,450 | 40.9 | 35.2 | 1,120,000 | 12,700,000 | 1,100 | ||
| 1938 | 161 | 1,740 | 5.23 | 26.8 | 1,120,000 | 13,000,000 | 1,170 | ||
| 1939 | 145 | 3,170 | 0.451 | 34.5 | 1,110,000 | 13,000,000 | 1,230 | ||
| 1940 | 151 | 3,760 | 0.995 | 36.6 | 1,090,000 | 12,700,000 | 1,310 | ||
| 1941 | 148 | 872 | 0.050 | 60.4 | 1,090,000 | 12,000,000 | 1,080 | ||
| 1942 | 108 | 280 | 0.091 | 67.3 | 1,090,000 | 10,900,000 | 1,120 | ||
| 1943 | 42.4 | 90.4 | 21.4 | 86.1 | 1,090,000 | 10,300,000 | 896 | ||
| 1944 | 31.1 | 89.3 | 853 | 109 | 1,090,000 | 10,100,000 | 813 | ||
| 1945 | 29.7 | 83.2 | 176 | 124 | 1,120,000 | 10,100,000 | 762 | ||
| 1946 | 49.0 | 340 | 197 | 177 | 1,120,000 | 9,320,000 | 860 | ||
| 1947 | 65.6 | 1,720 | 157 | 87.2 | 1,120,000 | 8,150,000 | 900 | ||
| 1948 | 62.7 | 1,720 | 166 | 80.1 | 1,120,000 | 7,560,000 | 932 | ||
| 1949 | 62.0 | 686 | 67.5 | 132 | 1,020,000 | 6,970,000 | 964 | ||
| 1950 | 74.5 | 145 | 455 | 120 | 1,120,000 | 7,560,000 | 879 | ||
| 1951 | 61.6 | 72.2 | 546 | 93.3 | 1,120,000 | 7,010,000 | 883 | ||
| 1952 | 58.9 | 658 | 24.4 | 113 | 1,110,000 | 6,830,000 | 868 | ||
| Year | Primary production | Secondary production | Imports | Exports | Shipments | Apparent consumption | Unit value ($/t) | Unit value (98$/t) | World production |
| 1953 | 60.9 | 41.8 | 26.6 | 100 | 1,120,000 | 6,830,000 | 864 | ||
|---|---|---|---|---|---|---|---|---|---|
| 1954 | 57.1 | 33.7 | 15.4 | 69.6 | 1,130,000 | 6,830,000 | 965 | ||
| 1955 | 58.5 | 91.1 | 5.05 | 61.1 | 1,130,000 | 6,860,000 | 947 | ||
| 1956 | 56.8 | 116 | 22.8 | 68.0 | 1,130,000 | 6,750,000 | 978 | ||
| 1957 | 55.8 | 240 | 149 | 69.7 | 1,120,000 | 6,510,000 | 1,020 | ||
| 1958 | 54.1 | 253 | 27.6 | 80.9 | 1,130,000 | 6,360,000 | 1,050 | ||
| 1959 | 49.9 | 264 | 1.54 | 98.8 | 1,130,000 | 6,310,000 | 1,130 | ||
| 1960 | 51.8 | 290 | 1.46 | 115 | 1,130,000 | 6,240,000 | 1,190 | ||
| 1961 | 48.2 | 50.2 | 689 | 122 | 1,130,000 | 6,160,000 | 1,230 | ||
| 1962 | 48.0 | 134 | 339 | 140 | 1,130,000 | 6,090,000 | 1,290 | ||
| 1963 | 45.2 | 39.8 | 181 | 132 | 1,130,000 | 6,010,000 | 1,340 | ||
| 1964 | 45.3 | 16.1 | 36.4 | 376 | -114 | 183 | 1,130,000 | 5,930,000 | 1,390 |
| 1965 | 53.0 | 18.0 | 90.4 | 1,140 | -146 | 204 | 1,130,000 | 5,840,000 | 1,440 |
| 1966 | 56.1 | 21.2 | 37.3 | 406 | -174 | 242 | 1,130,000 | 5,680,000 | 1,450 |
| 1967 | 49.3 | 25.3 | 28.9 | 893 | -195 | 291 | 1,130,000 | 5,530,000 | 1,420 |
| 1968 | 46.0 | 28.0 | 185 | 745 | -57.8 | 296 | 1,290,000 | 6,040,000 | 1,440 |
| 1969 | 53.9 | 28.0 | 182 | 10.5 | 0 | 312 | 1,340,000 | 5,940,000 | 1,450 |
| 1970 | 54.2 | 26.4 | 134 | 3.30 | 0 | 272 | 1,170,000 | 4,920,000 | 1,480 |
| 1971 | 46.5 | 28.9 | 196 | 39.7 | 0 | 284 | 1,330,000 | 5,340,000 | 1,450 |
| 1972 | 45.1 | 27.7 | 191 | 23.8 | 0 | 292 | 1,880,000 | 7,340,000 | 1,390 |
| 1973 | 36.6 | 23.4 | 120 | 18.7 | 53.0 | 265 | 3,150,000 | 11,500,000 | 1,350 |
| 1974 | 35.1 | 25.3 | 82.5 | 17.7 | 66.7 | 205 | 5,140,000 | 17,000,000 | 1,250 |
| 1975 | 32.7 | 34.9 | 82.8 | 83.6 | 17.9 | 208 | 5,190,000 | 15,700,000 | 1,200 |
| 1976 | 32.6 | 33.2 | 82.6 | 89.5 | 66.1 | 222 | 4,030,000 | 11,500,000 | 1,210 |
| 1977 | 34.2 | 32.3 | 139 | 218 | 199 | 228 | 4,770,000 | 12,800,000 | 1,210 |
| 1978 | 31.1 | 43.0 | 146 | 171 | 48.8 | 243 | 6,220,000 | 15,600,000 | 1,210 |
| 1979 | 30.0 | 52.1 | 144 | 513 | 1.20 | 239 | 9,890,000 | 22,200,000 | 1,210 |
| 1980 | 30.2 | 67.9 | 141 | 190 | 55.5 | 170 | 19,700,000 | 39,000,000 | 1,220 |
| 1981 | 42.9 | 50.1 | 145 | 200 | 36.7 | 151 | 14,800,000 | 26,500,000 | 1,280 |
| 1982 | 45.6 | 55.5 | 153 | 92.4 | 41.4 | 177 | 12,100,000 | 20,400,000 | 1,340 |
| 1983 | 62.3 | 55.5 | 143 | 97.6 | -6.80 | 194 | 13,600,000 | 22,300,000 | 1,400 |
| 1984 | 64.9 | 55.0 | 245 | 155 | 11.9 | 186 | 11,600,000 | 18,200,000 | 1,460 |
| 1985 | 75.5 | 49.8 | 256 | 123 | 15.1 | 180 | 10,200,000 | 15,500,000 | 1,530 |
| 1986 | 116 | 47.3 | 490 | 155 | 146 | 188 | 11,800,000 | 17,600,000 | 1,610 |
| 1987 | 154 | 63.8 | 120 | 120 | 95.1 | 193 | 15,400,000 | 22,000,000 | 1,660 |
| 1988 | 201 | 61.4 | 92.5 | 328 | 208 | 204 | 14,100,000 | 19,400,000 | 1,870 |
| 1989 | 266 | 51.9 | 153 | 211 | 132 | 212 | 12,300,000 | 16,200,000 | 2,010 |
| 1990 | 294 | 44.0 | 97.5 | 241 | 51.5 | 198 | 12,400,000 | 15,400,000 | 2,180 |
| 1991 | 294 | 48.1 | 179 | 310 | 61.6 | 190 | 11,700,000 | 14,000,000 | 2,160 |
| 1992 | 330 | 53.4 | 174 | 389 | 136 | 203 | 11,100,000 | 12,900,000 | 2,260 |
| 1993 | 331 | 66.0 | 169 | 786 | 582 | 214 | 11,600,000 | 13,100,000 | 2,280 |
| 1994 | 327 | 75.0 | 136 | 469 | 217 | 224 | 12,400,000 | 13,600,000 | 2,260 |
| 1995 | 317 | 43.0 | 140 | 399 | 244 | 231 | 12,400,000 | 13,300,000 | 2,230 |
| 1996 | 326 | 44.0 | 159 | 471 | 373 | 235 | 12,500,000 | 13,000,000 | 2,290 |
| 1997 | 362 | 49.0 | 209 | 477 | 143 | 265 | 10,700,000 | 10,900,000 | 2,450 |
| 1998 | 366 | 86.3 | 278 | 522 | 310 | 667 | 9,490,000 | 9,490,000 | 2,500 |
| 1999 | 341 | 77.2 | 221 | 523 | 303 | 399 | 9,000,000 | 8,810,000 | 2,570 |
| 2000 | 353 | 40.0 | 223 | 547 | 356 | 337 | 9,010,000 | 8,530,000 | 2,590 |
| 2001 | 335 | 40.5 | 193 | 489 | 259 | 257 | 8,750,000 | 8,060,000 | 2,600 |
| 2002 | 298 | 38.3 | 217 | 257 | 40.0 | 264 | 10,000,000 | 9,070,000 | 2,550 |
Gold Worksheet Notes
Data Sources
The sources of data for the gold worksheet are the mineral statistics publications
of the U.S. Bureau of Mines (USBM) and the U.S. Geological Survey (USGS)—Minerals
Yearbook (MYB) and its predecessor, Mineral Resources of the United States (MR);
and Mineral Commodity Summaries (MCS) and its predecessor, Commodity Data Summaries
(CDS). The source for recent consumption data is Gold Fields Mineral Services Ltd.
(GFMS) Gold annual reports. Metal price data were from Metal Prices in the United
States through 1998 (MP98). The years of publication and corresponding years of
data coverage are listed in the references section below. Blank cells in the worksheet
indicate that data were not available.
Primary Production
Primary gold production data for the United States as reported in the MR and the
MYB series are for domestic mine production included in the “Salient gold statisticsâ€
table. Primary gold production excludes imported gold in the form of concentrates,
doré, ores, and scrap.
Secondary Production
Net industrial consumption data were first reported in the 1941 MYB with data series
back to 1901. Net industrial consumption is defined as the difference between gold
issued for industrial use and gold returned from industrial use. Gold returned from
industrial use is assumed to be equivalent to secondary production and consists
of both old and new scrap. This data series continued until 1968 when the MYB started
reporting gold consumption in industry and the arts by industry group.
The CDS and the MCS series supplied the total secondary production data for new and old gold scrap for the years 1955–70. The MYB started reporting total secondary (recycled) gold production in 1971. Production data for old scrap was not separated from new scrap until 1975. The proportion of old vs. new scrap for the years 1971–74 was estimated from the average old and new scrap production data reported in the MYB for the years 1975–78.
Total refinery production from secondary sources, both new and old scrap, was first reported in the “Salient gold statistics†table starting with the 1976 MYB. Refinery production from secondary scrap (old scrap) was reported in the “Salient gold statistics†table starting with the 1978–79 MYB. Data for secondary gold recovered from both old and new scrap were from “U.S. refinery production of gold†table. Reporting of separate data for old and new scrap ceased following the 1993 MYB when only the total old and new scrap are reported. Secondary production from old scrap for the years 1994–2002 are estimated to be 49% of the total old and new scrap reported in the “Salient gold statistics†table.
Imports
Gold imports include bullion, concentrates, doré, ore, and scrap, but exclude all
monetary gold. Import data were reported in the MR for the years 1908–31 from statistics
furnished by the Bureau of Foreign and Domestic Commerce. Gold import data, reported
in dollar amounts, were divided by the official gold price to arrive at the amount
of troy ounces imported. Reporting continued in the MYB in the same format for the
years 1932–48. The official troy ounce gold prices used for the conversion were
set by the U.S. Congress at $20.67 for the years 1900–32, $25.56 for 1933, $34.95
for 1934, and $35.00 for the years 1935–70. Starting with the 1949 MYB, data were
reported in troy ounces and value.
Exports
Gold exports include bullion, concentrates, doré, ore, and scrap, but exclude all
monetary gold. Export data were reported in the MR for the years 1908–31 from statistics
furnished by the Bureau of Foreign and Domestic Commerce. Export data reported in
dollar amounts were divided by the official gold price to arrive at the amount of
troy ounces exported. Reporting continued in the MYB in the same format for the
years 1932–48. The official troy ounce gold prices used for the conversion were
set by the U.S. Congress at $20.67 for the years 1900–32, $25.56 for 1933, $34.95
for 1934, $35.00 for the years 1935–70. Starting with the 1949 MYB, data were reported
in troy ounces and value.
Shipments
Shipments are defined as the Federal Reserve deliveries, which is the net bullion
flow to market from foreign stocks at the New York Federal Reserve Bank. Stocks
are not used in estimating apparent consumption of gold in the United States.
Apparent Consumption
Salient gold statistics table, starting with the 1994 MYB, includes data for two
headings, “Consumption in industry and the arts†and “Apparent demand, refined.â€
Apparent demand is comparable to apparent consumption and is defined using the following
equation:
APPARENT CONSUMPTION = REFINERY PRODUCTION FROM PRIMARY MATERIALS + REFINERY PRODUCTION FROM OLD SCRAP + NET BULLION FLOW TO MARKET FROM FOREIGN STOCKS AT THE NEW YORK FEDERAL RESERVE BANK + NET IMPORTS OF BULLION.
A problem arises in the use of this formula prior to 1970 due to the lack of reporting of monetary use of imported and exported refined bullion. The following method was used in order to estimate apparent consumption prior to 1970. Net industrial consumption data were first reported in the 1941 MYB, with data series back to 1901 (An estimate was made for the year 1900 using linear extrapolation). Net industrial consumption is defined as the difference between gold issued for industrial use and gold returned from industrial use. Reported consumption, as used in this analysis, is equivalent to the “gold issued for industrial use†portion of the net industrial consumption reported in the “U.S. gold consumption in industry and the arts†table in the MR and the MYB for the years 1901–67. The 1968 MYB changed the reporting of U.S. gold consumption in industry and the arts to include only the net consumption portion of the previous series. The totals in “U.S. gold consumption in industry and the arts†table for the years 1968– 79, and the total secondary gold production (old and new scrap) were summed to continue the reported consumption series. A switch was made to using the GFMS reported consumption series for the years 1980–99, with total secondary gold production (old and new scrap) added. The GFMS reported consumption series is considered to be equivalent to the net consumption series compiled by the USGS, and is believed by the USGS commodity specialist to be more complete since 1980 than the USGS series, because of poor reporting of data by the gold manufacturing and consuming industries on survey forms of the USGS and former USBM.
Unit Value ($/t)
Unit value is the value in actual U.S. dollars of 1 metric ton (t) of gold apparent
consumption. Unit values are estimated from the Englehard market prices for refined
gold as reported in the MP98 and the 2002 MYB.
Unit Value (98$/t)
The Consumer Price Index conversion factor, with 1998 as the base year, is used
to adjust unit value in current U.S. dollars to the unit value in constant 1998
U.S. dollars.
World Production
World gold production data for the years 1900–26 are from reported estimates by
Ridgeway (1929). World gold production data for the years 1927–2002 are from the
MYB in the “Salient gold statistics†and “Gold: World production by country†tables.
Updated values for world gold production for the years 1929–50 reflect revised estimates
by the USGS gold commodity specialist for some countries.
References
Gold Fields Mineral Services Ltd., 1990–2000, Gold 1990–2000: Gold Fields Mineral Services Ltd. (London).
Ridgeway, R.H., 1929, Summarized data of gold production: U.S. Department of Commerce, Bureau of Mines, Economic Paper No. 6, 63 p.
U.S. Bureau of Mines, 1927–34, Mineral Resources of the United States, 1924–31.
U.S. Bureau of Mines, 1933–96, Minerals Yearbook, 1932–94.
U.S. Bureau of Mines, 1962–77, Commodity Data Summaries, 1962–77.
U.S. Bureau of Mines, 1978–95, Mineral Commodity Summaries, 1978–95.
U.S. Geological Survey, 1901–27, Mineral Resources of the United States, 1900–23.
U.S. Geological Survey, 1997–2003, Mineral Commodity Summaries, 1997–2003.
U.S. Geological Survey, 1997–2004, Minerals Yearbook, v. I, 1995–2002.
U.S. Geological Survey, 1999, Metal Prices in the United States through 1998.
U.S. Geological Survey and U.S. Bureau of Mines, 1996, Mineral Commodity Summaries, 1996.
