"Allow us to suggest a substitute for the US greenback within the type of Russian gold, which we …"
by Dave Kranzler, Dynamics of Funding Analysis
In a technique or one other, the destiny of the greenback is inevitable …
"Tremendous conservative traders purchase and maintain them" beneath the pillow, which isn’t very protected "
Russian gold may turn into the right various to conservative funding within the dollar, estimates the managing director of the Russian Inventory Trade, the Moscow Inventory Trade (MOEX).
"Let's supply a substitute for the US greenback within the type of Russian gold, which we produce … from gold funding," instructed Monday the CEO, Alexander Afanasiev, in entrance of the Parliament of the Decrease Home of the Russian Parliament.
He added that some "tremendous conservative traders" purchase and maintain them "beneath the pillow", which isn’t very protected, he says. The MOEX chief additionally famous that the Russians had elevated their funding actions and acted "in a surprisingly rational means".
Russia is the third largest gold producer on the earth and, in 2017, has elevated its gold manufacturing by greater than 6%. In keeping with knowledge supplied by the Ministry of Finance, he reportedly produced practically 265 tonnes of gold in January-October 2018.
Learn the total article right here: US Greenback / Russian Gold