Fed tests gold upleg
Gold’s outlook and fundamentals remain really bullish.
Miners in Russia’s far eastern region of Magadan have mined over 40 tonnes of gold since the beginning of 2019, government-controlled RT news site reports.
According to the information, which cites local authorities, the figure implies that the miners have broken a 40-year production record. The report also states that they may reach 50 tonnes by the end of the year.
Besides the large amounts of the yellow metal, companies operating in Magadan also produced 560 tonnes of silver.
Last year, total output from the region was 37 tonnes of gold. Contributing to this figure was the 132,700 ounces produced by Polyus’ Natalka mine, one of Russia’s largest and, according to RT, the 15th largest gold asset globally by reserves.
Comments
Joshua Bako
Interesting