Russian Gold Miners Benefit from Ruble Devaluation
Edited by Rhod Mackenzie / 2016-02-17 06:50:30
Metals and mining Russia Russia mineral extraction Russia Metals and Mining Polymetal Polyus Gold Gold
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.
