US Gold Output Falls 7% as North American Projects Shape Future Supply - Crux Investor

AI desk brief

US gold output fell 7% year over year in Q3 2026 while Canada’s rose 22%, according to WGC figures cited in the article. Global mine production increased 3% to 1,070.9 tonnes, but recycling fell 8% to 314.5 tonnes and net producer de-hedging reached 16.8 tonnes, reducing total supply 1% to 1,368.6 tonnes. That contraction could support gold, but does not establish immediate physical scarcity or a near-term price direction. Average Q2 mining AISC rose 22% to $1,930/oz; future North American supply additions remain dependent on economic viability, permitting and financing, with discovery-to-production timelines typically spanning 10–20 years.