Net profit ofPolyus Gold- the largest gold producer in Russia – according to the international standards of financial reporting for 2015 amounted $1,119 million against the loss of $182 million for 2014, as the company reported. Last time the company performed the comparable net profit level far in 2006.
Polymetal International plc concluded legally binding agreement with Dundee Precious Metals Inc. about purchasing CSC "Dundee Precious Metals Kapan" (DPMK), with license for golden ore deposit Kapan in ArmenianRepublic, as company informed.
The Bank of Russia became a leader in gold purchasing in January 2016.This is evidenced by data of International Monetary Fund (IMF).
Production of gold in China amounted 450,05 tons in 2015, or 0,4% less than in previous year. Meanwhile, consumption of gold grew by 3,7%, to 985,9 tons, in a situation of metal demand recover and jewelry manufacturers activity, as China Gold Association informs.
Gold prices reached a year’s peak on Thursday, February 11, against the background of economical and geopolitical problems in the world, forcing investors to seek for financial refuge.
According to Thomson Reuters GFMS, price for gold may considerably rise against the background of gold production narrowing in 2016.
BMO Capital Markets forecast stabile gold market in the whole in 2016, with average price $1050 per ounce – comparing to $1160 per ounce in 2015.
Dubai Gold and Commodities Exchange (DGCX) announced record turnover on the results of 2015 which reached 14.5 million contracts (+ 23% yoy), according to Xinhua News Agency.“