The Australian Bureau of Agricultural and Resource Economics reported an expected 17% increase of Australian gold production over the next four years as investors boost purchases amid the global recession.

Australian gold production is forecast at 264 metric tons in the year ending June 30, 2012. Australian gold production in for the 2008-2009 fiscal year is forecast at 225 metric tons

Australian gold exports are also forecast to rise 59% to AU$17.3 billion in the year ending June 30, after increases in output and prices, the bureau said.

- luke