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According to the report, total gold supply surged 3% year-on-year to 1,313 tonnes, marking the highest quarterly output ever recorded. The increase was primarily fueled by strong mine production and elevated levels of recycled gold, though slightly offset by a minor negative impact from hedging. Year-to-date gold supply stood at 3,717 tonnes, reflecting a steady growth trend across the sector.
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Global mine production rose 2% year-on-year to 976.6 tonnes, up from 957.6 tonnes in the same period of 2024, and showed an impressive 8% increase compared to the previous quarter. The report highlighted Canada’s remarkable 20% year-on-year growth, supported by ramp-ups at the Blackwater, Cote, and Greenstone mines, new output from B2Gold’s Back River project, and improved performance at several established operations. Meanwhile, Ghana and Australia posted gains of 9% and 6%, respectively. In contrast, Indonesia, Mali, Mexico, and Turkey reported declines in output during the quarter.
Gold recycling activity also strengthened, rising 6% year-on-year to 344 tonnes, underscoring sustained consumer and market engagement. However, recycling volumes were 1% lower than in Q2 2025, suggesting some moderation after a strong start to the year.
The WGC noted that the record supply levels underscore continued resilience in global gold production, even amid fluctuating market conditions and regional output disparities.
