Ok, this article is crazy. The ruble’s peg to gold changes the value of the ruble. Gold and the dollar have the same relative value. Nothing changes between the dollar and gold. The dollar is still about 1/1927 per gold ounce. The ruble on the other hand will float up and down with gold which has moved between 1700 and 2100 dollars. But its up a lot from the year 2018 when it dipped below 1200 an ounce.
With US interest rates going up, the dollar should push gold down. As it does not pay interest. So holding gold will not be a good investment while the fed is moving against the money supply and inflation. If more countries with bigger economies do this, like China, it would start to sink the dollar. But don’t expect it. China sells to the US and a very strong yuan relative to the dollar would make all Chinese products too expensive.
But this is very good for Russia because Russia has gold mines and gold reserves. So they can more easily handle the fluctuations. And they shield themselves somewhat from the American forces which have been trying to sink the ruble.
“Ok, this article is crazy. The ruble’s peg to gold changes the value of the ruble.”
You notice the Russian central bank wasn’t kookoo enough to set the gold peg to anything other than the ruble”s recent value else they would just get laughed at by the whole financial world.