Thursday, June 12th 05:05 PM IST

Russian Gold output advances nearly 30% y/y in Jan-April

# Russia Gold  

Russian gold output advanced by nearly 30% year-on-year during January to April this year mainly due to producers fighting lower prices with higher volumes.

MOSCOW (Bullion Street): Russian gold output advanced by nearly 30% year-on-year during January to April this year mainly due to producers fighting lower prices with higher volumes.

According to Gold Industrialists' Union, Russia produced 63.7 tons of gold during the first four months of this year, a decrease of 29.7% from a year earlier.

In 2013, a 28% dive in bullion prices caught producers by surprise, putting balance sheets under stress.

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