Subsoil users in Tajikistan could increase gold production 4 times by 2021 compared with 2015 - up to 17 tons, according to the information of the local government.
The lists of industrial facilities of refining organizations and institutions engaged in the sorting, primary classification and initial evaluation of precious stones are expanded.
The gold prices yesterday briefly dropped below $1,250 an ounce, against strengthening US dollar, but then recovered and this morning were moving around the level of $1,260 an ounce, reflecting weak macroeconomic data coming out of China.
The State Repository for Precious Metals (Gokhran) will buy precious metals and stones for the State Fund at up to 6 billion rubles in 2017, follows from the draft budget of the Russian Federation, published by the Ministry of Finance.
Head of Ministry of Natural Resources Sergey Donskoy told Izvestia about the plans of the state to promote and support the gold mining industry, in particular, on the possibility of tax incentives and creation of venture capital funds to increase the geological exploration (GE) of gold in Russia.
The Russian Federal Agency on Subsoil Usage (Rosnedra) has updated the list of federal subsoil sites of solid minerals, in connection with the entry into force of the Federal Law of July 3, 2016 N279-FZ, the list includes 372 sites.
The Federal Reserve has spooked investors out of gold. Prices last week posted their biggest weekly slump in three years as hawkish comments from multiple Fed officials ignited concern that the central bank will soon raise U.S. interest rates.
Over the past two months, investors have put up $2.174 billion in the Market Vectors Gold Miners ETF (GDX), the largest ETF of gold mining companies, despite the fact that its shares dropped during this period by nearly 30%.