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Russia’s Silver Output Increases - Gold Decreases

Silver Output
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EDITOR NOTE: A recent disclosure by the Russian government’s Ministry of Finance about gold and silver output is a fascinating look at the supply of gold and the demand for silver. The country’s gold output fell by 1.9% in the first six months of 2021 from that same period in 2020. This number comes from mined gold dropping from 116.38 tons to 112.61 tons and by-product gold going from 8.27 tons to 7.42 tons. However, secondary gold “surged” in the first half of 2021, jumping from 13.45 tons to 15.48 tons. Conversely, silver output from Russia went up 1.8% in this year-over-year comparison. The output was 437.3 tons in 2020 and 445.18 tons this year. 

(MENAFN) Russia’s Ministry of Finance stated that gold output in the country in the first half of the year fell by 1.9 percent against the corresponding period of 2020, reaching 135.51 tons.

The numbers are anchored in raw materials supply information from Russia’s refineries.

Output of mined gold in the cited period hit 112.61 tons, compared to 116.38 tons in the first six months of the past year, while output of by-product gold came in at 7.42 tons compared to 8.27 tons in 2020. Output of secondary gold in the first half of the year surged to 15.48 tons, against 13.45 tons this year.

In the meantime, silver output jumped in the reporting period by 1.8 percent, increasing to 445.18 tons, against 437.3 tons last year.

Originally posted on MENAFN

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