Russia poised to overtake US in gold production | Russia Beyond The Headlines: "Analyst Dmitry Tremasov at BKS Forex concurs: "There are very few growth drivers, so the price of gold is not likely to resume growth in the foreseeable future. From an instrument of protection, gold has turned into a risk asset dependent on fluctuations in the dollar exchange rate and also on the monetary policies of the U.S. and other countries.""
Gold extraction and production has been growing in Russia since 2008. The UGP expects production to reach 234 tons in 2013, making Russia a realistic contender for third place worldwide. The closest competitor is the U.S., which came third in 2012 with 235 tons.
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