The key BRICS international locations of Russia, China, India, Turkiye and the UAE are wrecking havoc in world gold markets, that are already setting document highs.
Creating world central banks and governments are strongly motivated to maneuver reserves from Western banking programs, following US and European seizures of Russian USD and Euro reserves. Apart from shifting gold out of vaults in Western international locations, these patrons are scooping up excessive volumes of Russian gold, regardless of heavy sanctions on Russian producers.
Assets and hyperlinks:
India outpaces the remainder of the G20 in gold purchases
Vladimir Putin’s gold technique explains why sanctions in opposition to Russia have failed
https://theconversation.com/vladimir-putins-gold-strategy-explains-why-sanctions-against-russia-have-failed-225748
Russia is going through greater than 16,000 sanctions — so why hasn’t its economic system buckled?
https://www.cbc.ca/information/world/russia-sanctions-economy-1.7141305
UK Workplace of the Overseas Secretary, UK cracks down on gold and oil networks propping up Russia’s warfare economic system
https://www.gov.uk/authorities/information/uk-cracks-down-on-gold-and-oil-networks-propping-up-russias-war-economy
Russia’s forex bounces again after Moscow mandates cost for gasoline in gold-pegged ruble
https://www.nationalheraldindia.com/worldwide/russias-currency-bounces-back-after-moscow-mandates-payment-for-gas-in-gold-pegged-ruble
Statista, Commerce balances for United Arab Emirates
https://www.statista.com/statistics/297804/uae-trade-balance/
Bloomberg, Swiss Imports of Russian Gold Rise to Most Since April 2020
https://www.bloomberg.com/information/articles/2022-09-20/swiss-imports-of-russian-gold-climb-to-highest-since-april-2020
Reuters Unique: From Russia with gold: UAE cashes in as sanctions chunk
https://www.reuters.com/markets/russia-with-gold-uae-cashes-sanctions-bite-2023-05-25/
The value of gold is at a document excessive. Right here’s why
https://apnews.com/article/gold-prices-record-high-bar-worth-3644f0689b92b7646eb11c2e88e3f084
Gold worth in 1970’s from Mining.com
High 10 gold producing international locations
https://www.etftrends.com/2021/06/updated-top-10-gold-producing-countries/
PBS, Tens of billions of {dollars} in gold flows illegally out of Africa annually, a brand new report says
https://www.pbs.org/newshour/world/tens-of-billions-of-dollars-in-gold-flows-illegally-out-of-africa-each-year-a-new-report-says
Closing scene, Sanya, Hainan province
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