Despite the fact that Polyus Gold has increased its production of gold, its stock is still depreciating. It was a 7% increase up to 718 000 ounces during the period of January-June 2013. The company is expecting to get $987 million in revenues as opposed to $1,224bn a year ago.
The sales of gold dropped by 5% down to 654 000 ounces in the first half of the year. Obviously, the company’s financial performance was hindered by lower gold prices.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of PGIL.LS:
