Gold price extends loss as Fed cuts rates, signals less easing
New forecasts showed several officials penciled in fewer rate cuts for next year than estimated.
Russian firms produced 7.53 tonnes of gold in January, 12.4 percent more than in January of 2010, the Gold Industrialists’ Union industry lobby said on Saturday.
The union expects gold production by Russia — the world’s No. 5 producer — to rebound to 205-207 tonnes this year after it fell 1.4 percent last year to 201.3 tonnes.
