Morning Bites (part 2)
 
📉Russia’s gold output dropped 9.2% YoY in September, accelerating from the 3.6% YoY fall in August, according to Rosstat data. Despite three consecutive months of declines, local production was still up 1.7% YoY on the 9mo23 basis. Russia accounts for ~9% of the world's mined gold output. Overall, given miners’ rising cash costs, persistently strong demand from global central banks and potentially lower US Fed funds rate in 1H24, we maintain our bullish view on gold's performance

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