Morning Bites (part 2)

📈Russia’s gold output jumped 17.4% YoY in May, accelerating from the 10.5% YoY growth in April, according to Rosstat data. The recent positive YoY dynamics most likely reflect the low base effect from 2022. Hence, we maintain our positive view on the precious metal, amid strong physical gold demand, rising cash costs of gold miners, as well as unfavorable macroeconomic conditions globally. We note that Russia accounts for ~9% of the world's mined gold output

#gold 
https://metals-wire.com/sector/Gold