Monday, July 26, 2010

Russian Gold Production Falls By 3.41%

According to a brief report in the Automated Trader, Russian gold production from January to June of this year fell 3.41% from the same period last year. This small fall occurred despite significantly higher gold prices.

Russia's central bank is still adding gold to its reserves, so net exports from the country must be falling unless demand from the Russian public has fallen by a greater amount than central bank purchases plus the production shortfall.


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