Fitch Solutions forecasts a considerable increase in global gold output in short-term.
According to the analysts, Russia could outrun China and become the largest gold producer in the world until 2029.
Domestic demand for gold will provide for the further increase in speed of gold mining.
The output is expected to grow from 11.3 million ounces in 2020 to 15.5 million ounces in 2029, by 3.7% per year.
Russia will also increase its share in the global production from the current 10.4% to 11.7% in 2029. (Ukrainian metal)