Global Gold Supply Slips 1% in Third Quarter Despite Record Mine Production

Total global gold supply fell 1% year-over-year to 1,369 tonnes in the third quarter of 2026, even as mine production reached a record Q3 high of 1,071 tonnes. The overall supply contraction was driven by an 8% drop in gold recycling to 314 tonnes and producer de-hedging, which removed 17 tonnes from the market. Record mine extraction was supported by a 22% production jump in Canada alongside gains in Indonesia, Chile, and Ghana. Meanwhile, all-in sustaining costs rose 22% year-over-year to a record $1,930 per ounce in the second quarter.