Hedge funds slash bullish wagers on gold over Trump election win
The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
Most rescue efforts have been suspended at a gold mine in Russia’s far east, where 13 miners were trapped by a rock fall on March 18, due to the risk of another collapse, state news agency TASS reported on Wednesday.
The Pioneer gold mine, one of Russia’s largest, is in the Amur region which borders China, about 5,300 km (3,300 miles) east of Moscow.
Emergency workers would study water deposits discovered at the bottom of four shafts, the emergencies ministry said in a statement posted on the messenger app Telegram.
“This will allow us to establish a complete picture of the entire depth of the mine and make a decision on further work,” it added.
The ministry earlier said that the mine was probably flooded.
(By Felix Light; Editing by Andrew Osborn and Andrew Heavens)
Comments