Gold playing growing strategic role amid global uncertainties, report says

Gold is playing an increasingly important strategic role against the backdrop of global economic and geopolitical uncertainties, according to a mining industry report released in Tianjin on Friday.

The Global Mining Development Report 2025 was unveiled by the International Mining Research Center of the China Geological Survey, Ministry of Natural Resources, at the 27th China Mining Conference and Exhibition.

The report said global gold trade exceeded 3,000 metric tons in the first half of this year. In 2024, China maintained its position as the world's largest gold importer, accounting for nearly half of global gold imports.

Chen Jinghe, chairman of Zijin Mining Group, emphasized gold's unique position during a conference forum. "Amid global currency fluctuations and rising geopolitical risks, gold's status as both a financial asset and commodity remains unshakable," he said.

Chen noted that central banks worldwide continue to increase their gold reserves, while China's gold holdings represent less than 9 percent of its foreign exchange reserves — significantly below the global average of about 30 percent.

As a leading global gold producer, Zijin Mining has recently expanded its global footprint with the acquisition of an overseas gold mine.

Beyond gold, the report said global coal trade volume increased slightly in 2024, with China remaining the world's largest coal importer. Silver and platinum trade volumes also rose, supported by investment and industrial demand.

The report suggested that gold's importance as a strategic asset will continue to grow as the global economic landscape undergoes significant transformation.

Cai Muzi contributed to this story.