The yellow metal is considered the most valuable and reliable asset in the world, and its price reached new highs last year, when investors rushed to buy safe assets amid recession fears.

Some expectations indicate that the price of gold may reach its highest level ever in 2023.

In his report, published by the American “insidermonkey” website, writer Fahd Selim said that the Danish investment company “Saxo Bank” mentioned in a recent report that the price of gold may reach $ 3 thousand an ounce in 2023, believing that the year 2023 will witness the so-called “war economy” and everyone will resort to hedging with gold.

On the other hand, some believe that gold prices may remain stable this year because 2022 showed that the nature of gold does not provide a safety net for its buyers.

According to the "Wall Street Journal," Kathy Kresky, a strategist at Invesco, believes that gold is not a good hedge against inflation.

The writer pointed out that there are many reasons to invest in gold stocks.

First, the major gold companies enjoy stability during difficult times, as well as making large profits.

According to Bank of America analysts, the price of gold may exceed $2,000 an ounce this year, a price close to record levels.

Citigroup analysts wrote that the rising risk of a global recession could boost inflows into yellow metal funds.

Estimates from the Australian Government's Department of Industry, Science, Energy and Resources indicate that global gold production was expected to rise by 2.2% to 3,660 tonnes in 2022. China, Australia and Africa were expected to lead this growth.

The following is a list of the largest active gold mines in the world based on research reports, based on gold production and the prominent companies that operate these mines.

Gold is the most valuable and reliable asset in the world (Shutterstock)

Pueblo Viejo

The total production of this mine, located in the Dominican Republic, was 488,000 ounces in 2021. It is considered the largest in Latin America.

It is overseen by Pueblo Viejo Dominicana, of which Barrick for gold owns 60% and Newmont Mining owns 40%.

LOULO

According to the location, this mine is located in Mali, and its total production reached 560,000 ounces in 2021. Its management is supervised by the Barrick Gold Company.

Parachute

This mine is located in Brazil, and in 2021 the total production was 549,000 ounces.

Boddington

Located in Western Australia, it is also an important copper mine in the region.

And in 2021, it produced 696,000 ounces of gold and 32,000 ounces of copper.

Detour Lake Mine

Kirkland Lake Gold operates this Canadian mine, after it acquired it in 2019. It reported that it produced approximately 210,000 ounces in the fourth quarter of 2021 alone.

The total production reached 712 thousand ounces in 2021.

Malartic

This Canadian mine achieved a production volume of 714,784 ounces of gold in 2021, and it is owned by Agnico Eagle.

Lihir

It is managed by New Crest, located in Papua New Guinea, and its total production volume reached 737,000 ounces in 2021.

Cadia Valley

Located in Australia, it is a series of copper and gold mines that spread across the entire valley.

It is the second largest open pit mine in the country.

It is run by the New Crest Company, which operates in the field of exploration, development, mining and selling gold.

Its total production reached 764,000 ounces in 2021.

Kibali

It is considered one of the mines owned by the "Barrick Gold" company in the Democratic Republic of the Congo.

Its total production volume reached 812,000 ounces in 2021.

Olympiada

It has a production of 1.18 million ounces in 2021. It is one of the largest gold mines located in Russia.

Its reserves are estimated at 30 million ounces.

Grasberg

Its production was 1.37 million ounces in 2021. It is located in Mimica Regency, Papua Province, Indonesia.

It is owned by the US company Freeport, which has soared in value recently, as investors believe that reopening China could bode well for mining companies like Freeport.

Muruntau

In 2021, its production in Uzbekistan exceeded 3 million ounces.

It is one of the largest open gold mines in the world.

It is run by the state-owned Navoi Mining and Metallurgical Combinations.

Nevada Gold Mines

It ranks first in the world with a production volume of 3.3 million ounces in 2021. Its management is supervised by Barrick Gold, one of the largest gold companies in the world.

However, this complex is a joint venture between Barrick Gold and Newmont Mining, the latter owning about 38.5% of the mines.

In November, Barrick Gold shares fell to a record low after the company announced its third-quarter results, and this period suffered due to higher costs and lower production.

Its revenues also declined by 10.6% in the second quarter, to reach $2.53 billion.