Russian Gold Miners Benefit from Ruble Devaluation

Over the past three years the price of gold decreases - the era of quantitative easing comes to an end, the value of money is no longer a zero - the US Federal Reserve is going to raise rates, dollar is rising against global currencies, and investors are losing interest in gold as a safe asset.

Even in 2015, with all its political and economic upheavals, which, it would seem, should increase the demand for protective assets, the price of gold in dollars didn’t increase, but even decreased by 10%.

However, for most of the world gold producers the price didn’t decrease, but increased due to the depreciation of local currencies, and it happened in the major gold mining countries of the world - South Africa, Canada, Australia and Russia.

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Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
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