Russia:Preliminary results in the gold industry in the first 9 months of 2015

Gold Miners Union of Russia has announced the preliminary data of the total gold production in Russia and lowered the forecast of the average price of gold in 2015 to $1150 per ounce from previous $1200.

"Due to the continuing pressure on the gold price by more persistent rumors about the possibility of raising discount rate by the US Federal Reserve in December of this year, we downgrade our forecast for the average price of gold in 2015 to $1150," - reported the industrial union.

At the same time it is noted that the forecast of the mining and production of gold in Russia in 2015 will remain unchanged in the amount of no more than 291 tons.

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