{
  "id": 12438276,
  "title": "The World’s Gold Producers Are Starting to Hoard Their Own Gold",
  "url": "https://urgent.news/2026/10/06/the-worlds-gold-producers-are-starting-to-hoard-their-own-gold",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T18:00:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Metals/Gold/The-Worlds-Gold-Producers-Are-Starting-to-Hoard-Their-Own-Gold.html"
  },
  "original_language": "en",
  "account": "In recent years, a noteworthy shift has been occurring in the global gold market as countries across Asia are increasingly focusing on refining gold domestically and storing it. This move, often referred to as \"resource nationalism,\" could potentially drive up gold prices in the medium to long term. The primary reasons behind this trend are the waning confidence in the US dollar as the world's reserve currency and the fact that gold is the only reserve asset that cannot be frozen by central banks.\n\nLaos, which ranks sixth in Asia in gold production, has established the Lao Bullion Bank to refine local gold and enhance the country's foreign exchange reserves. Indonesia, the world's 10th-largest producer, has implemented an export tax of up to 15% on gold starting in 2026 to curb over-reliance on domestic supply. Meanwhile, China, the world's largest producer and importer of gold, is also heavily investing in local production due to the restrictions on exporting gold.\n\nAside from Asia, Madagascar's central bank has been purchasing domestically produced gold since the early 2020s, while Ghana, another major gold producer, has signed an agreement to ensure that the benefits of its gold resources are realized by its communities and the nation. These developments highlight the growing importance of gold as a reserve asset that is not easily controlled or frozen by any single country, thereby bolstering its appeal as a safe-haven investment.",
  "summary": "For most of modern history, the gold trade worked one way: emerging-market mines dug it up, shipped it out (often as cheap ore, more often through the back door), and London and New York did the rest. But that arrangement is now quietly breaking down. According to a must-read report in Nikkei Asia, countries across Asia are moving to capture more of the value from the gold boom by refining…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}