Gold price tumbles on reports of de-escalating Middle East tensions
Gold plunged 3% after Axios reported that Israel and Lebanon have accepted the terms of a ceasefire agreement.
JOHANNESBURG, Feb 5 (Reuters) – South Africa’s Sibanye-Stillwater’s full year platinum production rose compared with the year-ago period, while gold production fell after the firm mothballed its Cooke operations, the diversified miner said on Monday.
Platinum group metals production in South Africa rose 4 percent above the firm’s guidance, to stand at to 1.19 million ounces.
Gold production was higher than guidance at 1.4 million ounces but lower that the previous year’s output of 1.5 million ounces. The company had estimated production of up to 1.38 million ounces.
(Reporting by Tanisha Heiberg; Editing by James Macharia)
