Morning Bites (part 1)

📈Russia’s gold output rose 5.9% YoY in December, accelerating from the 1.4% YoY increase in November, per Rosstat data. Overall, in 2024, the country’s output was up 5.3% YoY. We recap that Russia accounted for ~9% of the world's mined gold supply in 2023

Although, at spot, gold keeps trading above what we see as its fundamentally reasonable level for 1H25 (~USD 2,500/oz), we think the precious metal’s price will remain elevated in 2025, given continuing inflows into global ETFs and central banks

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