Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Russian central bank restarts gold buying
FOXBusiness ^ | 02/27/2022

Posted on 02/27/2022 10:41:58 PM PST by BenLurkin

Russia's Central Bank indicated it will dip back into the precious metals market.

"From February 28, 2022, the Bank of Russia resumes the purchase of gold on the domestic precious metals market. The purchase price of gold will be determined daily based on the morning price of the London Bullion Market Association (LBMA Gold Price AM)" a notice read on the bank's website, translated.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Business/Economy
KEYWORDS: delusionalsystem; gold; ntsa; reservecurrency

1 posted on 02/27/2022 10:41:58 PM PST by BenLurkin
[ Post Reply | Private Reply | View Replies]

To: BenLurkin

I’m shocked, shocked!


2 posted on 02/27/2022 10:43:19 PM PST by Buttons12 ( )
[ Post Reply | Private Reply | To 1 | View Replies]

To: Buttons12

How dare they...sarc


3 posted on 02/27/2022 10:47:36 PM PST by Nextrush (FREEDOM IS EVERYBODY'S BUSINESS REMEMBER PASTOR NIEMOLLER)
[ Post Reply | Private Reply | To 2 | View Replies]

To: BenLurkin

Gold futures up only 12 and falling.


4 posted on 02/27/2022 11:40:07 PM PST by BiglyCommentary
[ Post Reply | Private Reply | To 1 | View Replies]

To: BiglyCommentary

Would you trade gold for rubles?


5 posted on 02/28/2022 12:06:39 AM PST by P-Marlowe (I got the <ΙΧΘΥΣ>< variant. Catch it. John 3:16)
[ Post Reply | Private Reply | To 4 | View Replies]

To: P-Marlowe

My favorite trades over the decades are the blood in the street trades. Human nature when acting on pure fear is very prdictable. Fear of the unknown/future is always the greatest and that causes very big overshoots. I love to fade those. Not the type of trades for the slow or timid.

So to your question... I would have have traded gold for rubles last even when those markets opened and the ruble hit a new record low and gold had spiked up. I would have gone flat on that trade after those opening spikes reversed. Now I would pass on the trade. Way too unpredictable at this time.


6 posted on 02/28/2022 12:18:23 AM PST by BiglyCommentary
[ Post Reply | Private Reply | To 5 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson