Market 2215 Jan 2018 00:59
Meeting on the 2nd of December. Copied but intresting
Firstly, in his speech Shvetsov ( a Russian) confirmed that the BRICS group of countries are now in discussions to establish their own gold trading system. As a reminder, the 5 BRICS countries comprise the Russian Federation, China, India, South Africa and Brazil.Interestingly, the Bank of Russia first deputy chairman also discounted the traditional dominance of London and Switzerland in the gold market, saying that London and the Swiss trading operations are becoming less relevant in today�s world. He also alluded to new gold pricing benchmarks arising out of this BRICS gold trading cooperation.( 5 BRICS countries comprise the Russian Federation, China, India, South Africa and Brazil)