Mexican Gold Production Drops 31.6% in 2025 Amid Strong Jewelry Demand
Mexico's gold production experienced a significant decline in 2025, dropping by 31.6% compared to the previous year and totaling 2.58 million ounces.
The top 10 mining operations accounted for 66.7% of this reduced output, with Newmont's Peñasquito mine leading the pack at 415,370 ounces followed closely by Fresnillo plc's La Herradura mine in Sonora with 356,090 ounces.
Gold continues to play a crucial role as both a raw material and a store of value, driven primarily by jewelry demand which accounted for 44% of global stocks in 2025. However, its relative share has been declining over the years, from 60.4% in 2013 to 33.2% in 2025.
The official sector holds around half of the total gold reserves, with private investors holding a significant portion as well. Investment and official reserves sustain the market, solidifying gold's position as a safe-haven asset.