Even after two years of gains, industrial metals trade well below 10-year mean prices. Silver looks cheap, but gold, crude may be fully priced already.
The IMF has warned the southern African nation is at high risk of debt distress, while investors have grown skeptical about the amount of external loans.
Gold production for the three months to June dropped 36% to 133,778 ounces as operations at two its three mines - Bulyanhulu and Buzwagi – were scaled back.