Yamana Gold Misses 2013 Output Target, But Has Resolved Issues

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“Yamana Gold Inc reported 2013 production that missed its forecasts on Monday, but said the problems that caused the shortfall were resolved by the end of the year and its shares jumped after the news,” reports Reuters.

“The Toronto-based miner, which has operations in Mexico, Brazil, Chile and Argentina, had warned in October that it could miss its 2013 production target but did not give a revised forecast.”

“Yamana said issues at some of its new mines weighed on output. It produced about 1.2 million gold equivalent ounces in 2013, below its July forecast of between 1.32 and 1.37 million gold equivalent ounces.”

In metal price news for precious metals…

The week’s biggest mover on the weekly Global Precious Metals MMI® was Chinese palladium bar, which saw a 3.6 percent decline. The price of US palladium bar rose 2.1 percent after falling 3.0 percent during the previous week. The price of Japanese palladium bar rose 1.8 percent after falling 4.3 percent during the previous week.

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Chinese platinum bar prices were off slightly, down from a week ago. The price of Japanese platinum bar rose 0.4 percent after falling 4.3 percent during the previous week. After a 0.2 percent decline, US platinum bar closed out the week.

The price of Chinese gold bullion increased by a slight 1.7 percent over the past week. The price of US gold bullion rose 1.2 percent after falling 0.4 percent during the previous week. The price of Japanese gold bullion rose 1.2 percent after falling 2.2 percent during the previous week. The price of Indian gold bullion rose 1.0 percent after falling 0.7 percent during the previous week.

The price of US silver rose 3.5 percent after falling 2.2 percent during the previous week. The price of Japanese silver rose 3.0 percent after falling 3.9 percent during the previous week. The price of Indian silver rose 2.8 percent after falling 1.7 percent during the previous week. Chinese silver rose 0.4 percent over the past week.

The Global Precious Metals MMI® collects and weights 14 global precious metal price points to provide a unique view into precious metal price trends. For more information on the Global Precious Metals MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.