Gold deposits of Fennoscandia fall into several genetic types: an orogenic type; an epithermal metamorphosed type associated with intrusive magmatism (porphyric); a volcanogenic massive sulphide ore type (VMS); a skarn type; and a sedimentary (conglomerate) type. They are subdivided on the basis of geological position into deposits in Archean and Paleoproterozoic greenstone belts; in Svecofennides and in the Trans-Scandinavian magmatic belt; in the Gothian domain; in Precambrian terrains of West Norway and in erosional windows in Caledonides. Economic gold concentrations also occur in copper, copper-nickel and platinum deposits. Gold mineralization was forming dominantly during the AR₂ and PR₁ metallogenic epochs. 95% of resources (~2000 t) and almost 100% of the gold produced (~500 t) in the Fennoscandian Shield are associated with the Proterozoic epoch. Karelia's mining industry has produced a total of about 100 kg of gold. Karelia has more than 200 ore occurrences and several small gold deposits, similar to those known in other countries. Convergent plate interaction domains, primarily the Svecofennian oceanic plate-Karelian craton interaction domain, have the highest gold potential in Karelia. Considering the global gold demand and the condition of Russia's economic reserves, Karelia is likely to become one of the most perspective commercial gold mining regions in the near future.