Morning Bites (part 1)

🇿🇦South Africa’s PGM mining output fell 9% YoY in March, after the revised 3% YoY growth in February, affected by the ongoing domestic energy crisis and logistical issues. Meanwhile, the country’s gold production jumped 22% YoY, accelerating from the 2% YoY growth in February. To recap, South Africa accounts for ~70% of global platinum, 38% of palladium supply and 3% of global gold production. Despite the declining PGMs output, weak demand from the automotive sector might offset the favourable effect on prices. Regarding the sharp growth in gold production, this could have been partially driven by the low base effect from 2022, and likely will not affect the sentiment on gold, due to continuously strong demand, we think

#PGMs #gold   
https://metals-wire.com:3000/news-reports