Morning Bites (part 1)

📈Russia’s gold output increased 7.0% YoY in January, reversing from the -7.3% YoY in December, according to Rosstat data. Russia’s gold output was down 38.1% MoM, due to seasonal effects. Overall, we keep our positive outlook on gold price performance, as demand from global central banks remains solid, while high cost support levels and potentially lower key rates in the world's top economies (e.g. the EU and US) in 2024 are likely to add further support to the precious metal’s prices, in our view

To recap, Russia accounts for ~9% of the world's mined gold output

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