Morning Bites

📈Russia’s gold output rose 9.1% YoY in February, after the -2.5% YoY in January, per Rosstat data. The country’s output in 2mo25 was also up 4.5% YoY. Russia accounted for ~9% of the world's mined gold supply in 2023

We keep our view that gold continues to trade above what we see as its fundamentally reasonable level for 1H25 (~USD 2,500/oz), but we expect 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