WGC: Record Mine Production Keeps Global Gold Supply Stable in Q2
Gold | 2026-08-03 11:24:33
Meanwhile, recycled gold supply dropped 6% from a year earlier to 326 metric tons as consumer selling reduced due to softer gold prices.
By Paul Ploumis
SEATTLE (Scrap Monster): Global gold supply remained almost unchanged during the second quarter of 2026, as higher mine production balanced a notable decline in recycled gold, according to the latest Gold Demand Trends Q2 2026 report published by the World Gold Council (WGC).
The total gold supply stood at 1,269 metric tons during Q2 this year, matching the level recorded in the same period last year. Mine production reached a record 966 metric tons, up 2% year-on-year. First-half mine output also climbed 3% from a year earlier to 1,867 metric tons, WGC data said.
The production growth was led by Canada, Chile, Burkina Faso, and Ghana. However, production declined in Nicaragua, Mexico, the United States, and China.
Meanwhile, recycled gold supply dropped 6% from a year earlier to 326 metric tons as consumer selling reduced due to softer gold prices. Recycling activity weakened significantly across India, China, and the Middle East, while Europe and the United States recorded comparatively stronger performance. Meanwhile, de-hedging continued in Q2 by nearly 23 tonnes.
Despite record mine production, the gold mining industry continued to face challenges, mainly on account of rising operating costs. The average all-in sustaining costs increased during the quarter, the WGC report noted.
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Which factor had the biggest impact on the global gold market in Q2 2026?
Frequently Asked Questions
- Why did global gold supply remain stable in Q2 2026?
Record mine production offset the decline in recycled gold supply, keeping total supply at 1,269 metric tons.
- Why did recycled gold supply decline during the quarter?
Softer gold prices reduced consumer selling, leading to a 6% drop in recycled gold supply compared with Q2 2025.
- What challenges are gold miners facing despite higher production?
The industry continues to face rising all-in sustaining costs, increasing operating expenses even as mine output reaches record levels.
