Morning Bites (part 2)

📉Russia’s gold output dropped 12.3% YoY in July, reversing from the 9.5% YoY growth in June, per Rosstat data. Despite some slowdown in production during July, Russia’s gold output was still +5.5% YoY in 7mo23. Overall, we maintain our positive outlook on the precious metal, amid strong physical gold demand and the rising cash costs of gold miners, as well as unfavorable macroeconomic conditions globally. Russia accounts for ~9% of the world's mined gold output

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