India gold demand buoyed by import tax cut before wedding season
Imports more than tripled to 140 tons in August from the previous month, according to the World Gold Council.
Indonesian President Joko Widodo on Monday oversaw the launch of copper cathode production at Freeport Indonesia’s smelter in East Java province.
The new $3.7 billion smelter has annual input capacity of 1.7 million metric tons of copper concentrate, which could produce around 900,000 tons of copper cathode, 50 tons of gold and 210 tons of silver a year, Widodo said.
(By Bernadette Christina and Ananda Teresia; Editing by Martin Petty)
Comments
R. Valentine
Precious Metals are a vital part of modern civilization . An old observation by several metals experts goes as follows , ” Silver is the new Gold , Copper is the new Silver , and Gold will always be societies base currency .”
Only time will tell , so far , so true .