Polymetal, one of Russia’s largest gold and silver producers, said on Wednesday its 2019 net earnings rose 36% to a record high of $483-million due to stronger global gold prices and higher output.
The spread of the coronavirus this year has driven a further jump in gold prices with spot gold in London registering its biggest one-day percentage gain since 2016 on Tuesday when the US Federal Reserve cut its interest rate to cushion the economic impact from the virus.