FX.co ★ South Africa’s Gold Output Slump Deepens in May With 4.3% Year-on-Year Drop

South Africa’s gold production contracted sharply in May 2026, with output declining 4.3% year-on-year, according to data updated on 14 July 2026. The latest reading marks a notable deterioration from April 2026, when gold production was down a marginal 0.2% compared with the same month a year earlier.

The figures, based on year-over-year comparisons, show that the downturn in May represents a clear escalation in weakness for the sector. While April’s data suggested relative stability in gold output, May’s deeper contraction points to growing pressure on South Africa’s already challenged gold mining industry.