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Mexico's gold exports slip

Mexico's gold exports slip

October 12, 2017


Mexico's gold exports declined in January-August as production slipped, while silver sales abroad edged higher.Yellow metal exports were US$2.92bn, down from US$3.28bn in the same period last year, but up from US$2.30bn in January-August 2015, according to economy ministry data.The drop in 2017 reflects 4.0% lower gold output in January-July according to statistics agency Inegi. August figures are not yet available.Gold's monthly average price ranged from US$1,193-1,282/oz in the eight months, compared to US$1,097-1,341/oz in the same period 2016.Silver exports were US$1.33bn, a slight improvement over US$1.26bn in January-August 2016 and unchanged from the 2015 period.The rise reflected more stable silver prices, with monthly averages in the US$16-18/oz range compared to US$14-20/oz a year before.The increase came despite 3.7% lower output in January-July, according to Inegi.Mexico is the world's top silver producer and a top 10 miner of gold, copper, lead, zinc and molybdenum


Source: https://www.bnamericas.com