My latest articles published on http://www.sharpspixley.com website looking at the latest gold related news from China and Russia – two real believers in the future of the precious metal. Click on the titles to read full articles
Both Polyus Gold and Polymetal – Russia’s two largest gold producers have seen substantial output increases in H1 making suggestions that Russia’s gold output this year might rise by 3% look distinctly conservative.
China, the world’s largest gold consumer, appears to be seeing its own gold production fall – down 7.9% in H1 2018
Greater China (mainland plus Hong Kong) remained the principal destination for Swiss gold exports again in June. So far this year Greater China has imported around 400 tonnes of gold from Switzerland alone.
Russia, which has been running down its holdings of U.S. Treasuries, is continuing to increase its gold reserves at a rate of over 200 tonnes a year. At the current rate of increase the nation’s holdings will exceed 2,000 tonnes by the end of 2018.