Russia, Turkey and Kazakhstan remained key buyers throughout the year.
Turkey Mining News
Eldorado's shares jumped 12% in pre-market trading in New York on Thursday on the news.
The company is on track to kick off commercial production at its Lamaque project in Val d’Or, Quebec, during the first quarter of the year.
Our export markets have disappeared, the local market hardly exists, we've got lots of capacity and no market.
Recent drill highlights include 48.5 metres grading 2.69 grams gold from 60 metres downhole and 42.5 metres grading 2.55 grams gold from 31 metres downhole.
The link’s capacity increased to 1 million barrels a day from 900,000.
One of Russia's largest steel producers has postponed a decision on the restart of hot-rolled steel production at its Turkish plant.
While MMK said it sees stable demand for steel products in its markets, it warns that global steel prices could put pressure on results.
The World Gold Council found that gold demand reached 964.3 tonnes in Q3.
The project would make Kışladağ a nine-year, 270,000-ounce-per-annum gold mine.
The oil price is rising due to the upcoming restrictions on the sale of Iranian oil - the second of a two-part set of sanctions imposed on the Middle Eastern power following the Trump Administration’s decision in May to withdraw from the Joint Comprehensive Plan of Action (JCPA).
Egypt recently bought gold for the first time since 1978, India, Indonesia, Thailand and the Philippines have re-entered the gold market after years-long absences.
"It is not just China."
As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall.
The Turkish central bank will allow gold for foreign exchange and location swap deals in order to provide physical gold transactions.
Wood Mackenzie predicts that, in the short term, demand for coal will fall due to its higher prices. In the longer term, the new tariffs will slow Turkish economic growth and with that, further weaken the demand for coal.
First Turkish President Recep Tayyip Erdogan argued citizens should buy gold, then he said sell.
Gold may be trading at its lowest in 18 months in dollar terms but look at the precious metal in other currencies and you can see it’s still serving its role as a safe-haven asset.
Imports of jewelry, precious metals and stone products would be under the microscope.
Turkey was looking to boost its trade with West Africa and sub-Saharan countries, where there is demand for the less capital-intensive steel products.
The Vancouver-based miner said that the expected growth would be driven by Kisladag, its flagship gold mine in Turkey.
The sentences range from 15 to 22 years in jail for high-ranked executives.
Russia has cut its holdings of U.S. foreign debt by more than half. Instead, it’s been increasing its gold shares in its international reserves.
Koza Altin is one of hundreds of companies seized by the Turkish authorities and is now managed by the Savings Deposit Insurance Fund.
The Vancouver-based miner revealed that, including pre-commercial production from the Olympias project in Greece, its gold production was of 285,919 ounces in 2017.