Morning Bites

📈Russia’s gold output rose 6.9% YoY in March, after the 9.1% YoY gain in February, per Rosstat data. The country’s output in 1Q25 was also up 5.3% YoY. Russia accounted for ~9% of the world's mined gold supply in 2023

We maintain our view that gold is trading 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 steady inflows and geopolitical tensions

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