Palayan Resources, Inc. provided this update on the gold industry as demand increases during these trying times. During periods of crisis, gold has proven to be a time-honored safe-haven asset. Scarcity and built-in utility have made the yellow metal a sought-after commodity throughout recorded human history. Whether in physical or paper form, gold bullion is the world's go to financial hedge against uncertainty. The global gold market is likely to be affected by the fluctuating supply of mined gold as the global gold production is a mix of scrap recovery, central bank supply, and mined gold. More than half of the global gold supply comes from mined gold. In 2019 the U.S. produced 200 tons (6.4 million troy ounces) of gold (down from 210 tons in 2018), worth about USD 8.9 billion, and 6.1% of world production, making the U.S. the fourth-largest gold-producing nation, behind China, Australia and Russia. Most gold produced in the US comes from mines in the state of Nevada. The US is a net exporter of gold. In short, the outlook on the gold industry remains positive, and any transition to renewable energy sources is likely to have a beneficial impact both on the environment and on the precious yellow metal that has always proven to be a sought-after commodity.