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Gold is an important part of central banks' foreign exchange (FX) reserves. According to the International Monetary Fund (IMF), at the end of H1 2018 central banks collectively owned US$1.36tn of gold, around 10% of global FX reserves.

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Gold mining is the resource extraction of gold by mining.. As of 2017, the world's largest gold producer was China with 429.4 tonnes.The second-largest producer, Australia, mined 289.0 tonnes in the same year, followed by Russia with 272.3 tonnes.

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GOLD MINING exploration in world No.2 producer Australia is picking up according to new statistics, but global output is set to flat-line or decline in 2017 as lower exploration spending means fewer new projects will come on stream, writes Steffen Grosshauser at BullionVault.

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