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South African monthly gold production falls most since February 2017

Published 07/12/2018, 03:58 PM
Updated 07/12/2018, 03:58 PM
© Reuters.  South African monthly gold production falls most since February 2017

© Reuters. South African monthly gold production falls most since February 2017

  • May gold production in South Africa, once the world’s biggest producer of the metal, fell for the eighth straight month and by the most since February 2017, the government says.
  • Gold production declined 16.2% Y/Y, compared with a revised 5.8% contraction in April, while total mining output shrank for a third straight month, slipping 2.6% Y/Y compared with a revised 4.4% retreat in April.
  • Aging infrastructure, reserve depletion and accidents have raised costs and curbed mines’ output in South Africa.
  • Relevant tickers include GFI, SBGL, HMY, AU, OTCQX:AAUKF, OTCPK:AAUKY
  • ETFs: GDX, NUGT, GGN, DUST, GOEX, SGDM, ASA, RING, TGLDX, PSAU, GOAU, GDXX, GDXS
  • Now read: Gold: Dead Cat Bounce Or A Trip To The Top Of The Range?


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