Silver prices to rise more dramatically than gold in short term-Hecla CEO Baker

Bullion traded near $2,626 an ounce in thin trading after closing 1.1% higher on Friday.

Nigeria has lifted a ban on mining exploration in the northwestern state after a five-year suspension.

In 2017, El Salvador became the first country in the world to ban forms of metals mining.

Global gold production will peak at about 3,250 tonnes (105 million oz.) next year, according to CRU's Oliver Blagden.