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Alasdair Macleod: Russia steps up gold purchases
By Alasdair Macleod
GoldMoney, Toronto
Friday, September 6, 2024
While the resilience of gold and silver prices puzzles Western capital markets, the Asian hegemons take a different view, continuing to dump fiat for gold. Now Russia is investing her surplus oil revenue.
While gold and silver are yet to break into new high ground, the resilience of gold this week has been remarkable for its firm undertone, just under its all-time high. And silver is showing signs of bottoming out after a decent correction.
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In European trade this morning, gold was $2,518, up $15 from last Friday. At $28.80, silver was down just 5 cents. Volumes in both Comex contracts were moderate. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/russia-steps-up-gold-purchases
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