Gatos Silver posts solid 2024, preps takeover by First Majestic
The deal will merge Gatos’ main Cerro Los Gatos mine with First Majestic’s San Dimas mine in Durango, and its Santa Elena operation in Sonora.
Swiss gold exports rose in May after falling to their lowest in 10 months in April due to higher shipments to India, Swiss customs data showed.
Switzerland is the world’s biggest bullion refining and transit hub, while China and India are the largest consumer markets.
Swiss gold exports to India in May were the highest since September 2022, the data released on Tuesday showed.
Consumer demand for the precious metal in Asia is usually sensitive to high prices.
Gold prices are down almost 7% since early May when they hit a near-record high of $2,072. The metal touched its lowest since March 13 of $1,919.6 per troy ounce on Wednesday due to rising yields and technical selling pressure.
Following are numbers and comparisons.
| Export (kg) | |
| May 2023 | 152,193 |
| April 2023 | 113,375 |
| May 2022 | 106,458 |
| To China | To Hong Kong | To India | To Turkey | |
| May 2023 | 45,969 | 8,232 | 31,199 | 9,439 |
| April 2023 | 52,734 | 5,088 | 7,024 | 1,508 |
| May 2022 | 9,992 | 3,028 | 36,674 | 8,855 |
(By Polina Devitt; Editing by Richard Chang)
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