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The working titles of this film were The Golden Serpent, Condor's Nest and The Golden Condor. Voice-over narration by Cornel Wilde as "Jean-Paul" is heard intermittently throughout the film. As noted in the onscreen credits, portions of the picture were shot on location in Guatemala, and according to a January 1952 New York Times article, the film marked the first time that Guatemala was used as a location for a major Hollywood film. Although Hollywood Reporter news items include Alex Akimoff, Julio Bonini, Charles Gonzales, Mario Bramucci, Alexis Davidoff and Carli D. Elinor in the cast, their appearance in the completed picture has not been confirmed.
According to a February 1953 Hollywood Reporter news item, Art Arling briefly substituted for Edward Cronjager as director of photography after Cronjager fell ill. In a modern interview, director Otto Preminger, who is not credited onscreen, stated that he directed a "one-hour" retake of the film, a scene in which the boa constrictor appeared. The information was corroborated by Jules Buck, the producer of Treasure of the Golden Condor who implied that Preminger May have directed more than one scene.
The film marked the return to the screen of Fay Wray, who had last appeared in the 1942 Columbia production Not a Ladies Man. Twentieth Century-Fox had earlier adapted Edison Marshall's book in 1942 as Son of Fury, which was directed by John Cromwell and starred Tyrone Power, Gene Tierney, George Sanders and Frances Farmer (see AFI Catalog of Feature Films, 1941-50).