Gold production is Nordgold’s main business.

Therefore, the trends of the global gold market is of considerable importance to us.

The market price of gold is affected by demand and supply, which we consider in detail below. However, the top line is that the gold price increased by 10.3% to US$1,247/oz compared to US$1,130/oz in 2015. (Source: The London Bullion Market Association)

Nordgold does not have any gold hedging in place, and we therefore expect our realised gold price to remain close to the market price in 2017. Investment and speculation affect both the gold price and its consumption, unlike other metals, and add additional unpredictability to the trends in gold price forecasting.


demand

Demand for gold comes from four sources

supply

The supply of gold comprises mine production and gold recycling


Pricing

The market for gold is relatively liquid compared to other commodity markets, with London being the world’s largest gold-trading market.


History

CONTACTS

Anastasia Shatskaya

Acting Head of Media Relations
tel.+7 495 644 44 73 #707 6697

Irina Dormidontova

RECRUITMENT MANAGER
tel.+7 495 644 44 73

OLEG BAZALEEV

HEAD OF SUSTAINABLE DEVELOPMENT PROJECTS
tel.+7 495 644 4473 #707 6746