Money in the bank7 Sep 2024 11:12
The Jerusalem Post
Jerusalem Post Separator Business & Innovation Separator Precious Metals
601% Increase: Russia Unleashes Unmatched Gold Buying Spree
By PR Published: SEPTEMBER 5, 2024 15:45
Updated: SEPTEMBER 5, 2024 22:33
732% Increase: Russia Unleashes Unmatched Gold Buying Spree (photo credit: PR)
732% Increase: Russia Unleashes Unmatched Gold Buying Spree
(photo credit: PR)
Russia increases daily gold purchases from 1.12B rubles to 8.2B for the next month - a staggering 601% monthly surge, signaling a bold shift in their economic strategy.
Russia increases gold purchases: From 1.12 billion rubles per day to 8.2 billion rubles per day.
Monthly increase of 601% : The new amount is significantly larger than the previous one.
Gold as a means of payment: Russia and China use gold to circumvent sanctions and continue trade.
Multi-step process: Gold is purchased in Russia, transported to Hong Kong, sold, and proceeds are deposited in local bank accounts. Looks like the future of gold is now and the price will rise.