Page 50 - Bullion World Volume 02 Issue 08 August 2022

Bullion World | Volume 2 | Issue 08 | August 2022
INTERNATIONAL news

Serabi mines less gold in the first half but expects to

hit the 2022 target.

Serabi produced 15,480 ounces of gold in the first half of 2022, down 9.7% from the 17,135 ounces it produced a year ago.
The gold grade worsened to 6.06 grammes of gold per tonne from 6.71 in the first half of 2021. In the second quarter of 2022,
Serabi produced 8,418 ounces, down 7.0% from 9,048 a year ago. In the second quarter, gold grade improved by 12% to an
average of 6.43 grammes of gold per tonne from 5.72 a year ago. Serabi Gold shares fell 1.5% to 39.80 pence each in London.
Source: https://www.lse.co.uk

Turkey, Uzbekistan and Kazakhstan

have become the world's lead
buyers of gold.

Turkey became the largest precious metal buyer at the end of spring, with
gold reserves replenished by 13 tons. The Central Bank of Uzbekistan scored
second by buying 9 tons and increasing volumes for the second month in a
row. Kazakhstan's National Bank, with additional 6 tons, became the third
on the list.
Source: https://akipress.com
Gold an Effective

Store of Value

Amidst Falling Yen,

Says World Gold

Council UAE: VAT on gold-making

charges may impact other
The latest market research report published by
the WGC highlights gold as an effective store of businesses
value amid the falling Japanese currency. The
Japanese yen has weakened significantly during The Federal Tax Authority (FTA) recently issued a public clarification -
the first six months of the current year. The VATP029 - relating to B2B supplies of gold and products mainly consisting
currency has registered an 18% decline against mainly of gold (‘Gold Items’). As the clarification relates to gold-making
the US dollar, dragging it to the lowest point charges, CFOs/CEOs in other businesses (especially those in Designated
since 1998. The interest rate spread between Zones (DZs)) have ignored its impact on their operations.
Japan and other key markets sharply widened.
The worsening trade deficit and the country’s Source: https://www.khaleejtimes.com
economic declaration during the year’s initial
quarter weighed on the local currency.

Source: https://www.scrapmonster.com

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