Page 48 - Bullion World Issue 7 November 2021

Bullion World | Issue 07 | November 2021
INTERNATIONAL news

West African

announces record

production

Gold miner West African Gold has announced
a record gold production of 81 960 oz for the
three months to September, with full year gold
production now expected to exceed 280 000 oz.

The September quarter production was higher
than the 73 264 oz produced from the Sanbrado
operation, in Burkina Faso, during the June
quarter of this year, as openpit production
increased by 72%, driven largely by grade from
the M1 South orebody.

Source: https://www.miningweekly.com

WGC Report Unveiled Latest
Trends in Central Bank Gold

Reserves

The central banks from the emerging report notes that central banks have
and developing economies have been net purchasers of gold since
accounted for bulk of these gold 2010. Since then the banks have
purchases. The recently published added around 5,562.40 tonnes of
report by the World Gold Council gold to their reserves, thus lifting the
(WGC) states that there has been total official gold reserves to 35,527
a visible change in the attitude to tonnes. The central banks from the
gold by world central banks. The emerging and developing economies
report outlines recent trends in gold have accounted for bulk of these gold
reserves. The global financial crisis purchases.
of 2008 exposed vulnerabilities in the
global financial system, which led to a Source: https://www.scrapmonster.
change in attitude towards gold. The com

WGC: Gold ETF Outflows Led by

North American and European

Funds

The report published by the World Gold Council (WGC) noted outflows during September, which were partially balanced by
that gold ETF outflows from European and North American inflows into iShares Gold Trust, iShares Gold Trust Micro and
funds outweighed inflows into Asian funds during the month Goldman Sachs Physical Gold.
of September this year. Source: https://www.scrapmonster.com

The North American funds recorded net outflow of 6.60 Source: https://cfi.co
tonnes. The SPDR Gold Shares in the U.S. drove global

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