South Africa’s Rand builds gold analysis facility in Singapore

"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."

Gemfields said in a statement that "groups associated with the illegal mining and trading of rubies have taken advantage of the political unrest".

Gold has hit successive records this year and is set to close 2024 more than 25% higher.

At Monday's close, Russia's largest gold producer was the most expensive of all blue-chip stocks on the Moscow Exchange.