Galt &Taggart published an overview of the dynamics of Georgia's external trade in oil, natural gas, ammonium nitrate, wheat, copper, ferrosilicon and gold as of November 2023 and the annual change in the export and import.
According to Galt & Taggart data, Georgia received $80 million from gold export in 11 months of this year. The value of gold exports increased by 6.6% year-on-year in the 11 months of 2023, which is due to the increase in prices, as the volume of exports is unchanged at 2.46 tons.
It should be noted that in December 2023, the price of gold increased by 1.3% monthly, and by 13.1% annually, which is the first annual increase in the last three years. According to analysts, despite the positive year, gold still has more growth potential in 2024, which will be mainly due to the reduction of interest rates by central banks in developed economies.
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