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Thursday, 23rd June 2005 (4949 views)

Latest figures have shown that gold production was up 3.7 per cent year-on-year in January to May this year.<br/><br/>A total of 41.2 tonnes were produced and this could reach as much as 183 tonnes over 2005, according to the Russian Gold Producers' Union.<br/><br/>In addition, a total of 150 tonnes of gold had reportedly been ordered by 37 commercial banks from Russian producers by the middle of June this year.<br/><br/>However a source at the Gokhran or precious metals and gemstones repository told Russian news agency Interfax that 51 banks ordered 194.5 tonnes of gold last year.<br/><br/>Russia only produced 180.5 tonnes of gold last year and the repository warned that banks do not always purchase as much gold as they order.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=16002635"/>

 

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