Australian gold output inches higher by four tonnes year-on-year - Mining Weekly

AI desk brief

Australian gold output edged up to 303t in 2025/26, about 4t above the prior year, with production still averaging roughly 300t/year. On the supply side, gains at Boddington, Tropicana and Thunderbox-Bronzewing were partly offset by Cadia’s 60,000oz quarterly drop after a seismic suspension, while smaller producers and toll-treating also supported output.

The article also highlights the macro backdrop supporting bullion: concerns over US interest rates, higher oil prices tied to the US-Iran war, inflation anxiety, and rising US debt. Surbiton’s Sandra Close argues a stronger USD pressures gold, while weaker USDs lift the metal, and says central banks and large institutions are reducing dollar holdings and buying gold instead.