Business Insider reported that Russian gold miners are enjoying stable production costs and increased value in Russian gold reserves.
As quoted in the market news:
The latest figures from the Central Bank of Russia show, for example, that gold stocks in Russia’s international reserves (third largest in the world) jumped from a value of $36 billion at the start of the year to $49 billion at the start of September (before dropping to $44 billion this month to pay for the bank’s rouble defence). A total of 192 tonnes of gold were purchased (net) by governments in the first half of this year, compared with net sales of roughly 200 tonnes per annum in earlier years.
Click here to read the full Business Insider report.
