"Gold is mined in around 80 countries, with approximately 3,200 tons produced every year. The largest producers are China, Australia, Russia, and the US. Most gold comes from large, industrial mines, though 15 to 20 percent of the world's gold comes from small-scale or artisanal mines, primarily in Africa, Asia, and Latin America. Jewelry accounts for over 50 percent of the world's gold demand, an estimated 1,600 tons of gold for 2016...Gold from industrial mines may be exported directly to refiners, while artisanal gold may pass from one trader to another before being exported for refining. Gold refiners play a crucial role in the gold supply chain. Because the vast majority of the world’s gold passes through a small number of refiners, these companies are sometimes called the "choke point" of the gold supply chain.Once gold is refined, it is sold to banks, manufacturers, jewelry and watch companies, electronics companies, or other businesses. Jewelry companies may source their gold directly from refiners, or from manufacturers, banks, or international gold traders. China and India are the largest markets for gold jewelry, representing over 50 percent of global jewelry demand."