As gold prices continue to rise, Mexico remains the 9th biggest producer of the precious metal followed by South Africa, Indonesia and Peru. The drop in production was influenced by blockades in Guerrero in Los Filos and El Limón-Guajes as well as lower production levels in San Dimas, La Ciénega and Guancevi in Durango and La India and La Herradura in Sonora. But the promising pipeline of projects to start production in the coming years could paint a better picture in the short and medium term for gold producers in the country. There are investments in the new Pyrite Plant for Saucito and Fresnillo and the second Lixiviation Plant in La Herradura, among others. On a macro level, physical demand for gold increased for the first time in four years thanks to more industrial demand and growth in the fabrication of jewelry.