Russia for the first time in 25 years outstripped the United States in gold production

While China maintains its place in the top ten gold producing countries in the world, it is far from the only country to see growth in the past year. Increases in gold production were also seen in a number of other countries, including Australia, Canada, the Dominican Republic and Russia. This increase in production outweighs the decline experienced in Peru, Tanzania, South Africa and the United States.

The top ten gold producers in the world, according to the US Geological Survey:

1. China. Last year, China's gold production rose more than 5 percent to about 450 tons. In addition, the largest producer is also by far the largest consumer of gold in the world, reaching consumption of approximately 886 tonnes in 2014. Although it decreased by 24.7 percent compared to 2013.

2. Australia. Reached the output of about 270 tons of gold. This is the highest production rate in the country since 2003.

3. Russia. Russia saw a significant increase in gold production in 2014, leading the country to surpass the United States for the first time in 25 years. Production in the country increased by 27 percent in the first half of 2014 alone. Sergei Donskoy, Russia's Minister of Natural Resources and Environmental Protection, said 270 deposits have been discovered in Russia in the past five years alone, although the country is not considered a leader in exploration investment.

4. United States. The country's gold production fell by about 8 percent compared to 2013, to about 211 tons last year. There are 30 large mines in the country that produced more than 99 percent of the total amount of gold mined. Interestingly, gold mining companies make more money from deposits located in the United States than from operations anywhere in the world.

5. Canada. Canadian gold production has grown by about 35 tons since 2013, reaching 160 tons
6. Peru. Gold production in Peru declined slightly in 2014 to 150 tons.
7. South Africa. Production: 150 tons.
8. Uzbekistan. Production: 102 tons.
9. Mexico. Production: 92 tons.
10. Ghana. Production: 90 tons.