GOLD in a time of WAR
Welcome Friends, i write this idea in a west part of Ukraine 70 km from polish border
During every crisis price of GOLD rise - Central banks, banks and ordinary people use it as a hedge instrument.
By that logic, price of GOLD should rise. Because Demand will rise.
But there is one thing that might dump the price. It's Russia.
Russia has big amount of GOLD in reserves 22% ( Whole reserves more than 600B). But they won't do it)))
ECB US started sanctions on Central BANK of Russia. That means, even if Russia would like to sell it's gold, who will buy it?
China? Iran? India
I don't think that any country on a planet will break US and EU sanctions. Automatically they will get big penalty.
That's why I think local price of GOLD could rise.
During every crisis price of GOLD rise - Central banks, banks and ordinary people use it as a hedge instrument.
By that logic, price of GOLD should rise. Because Demand will rise.
But there is one thing that might dump the price. It's Russia.
Russia has big amount of GOLD in reserves 22% ( Whole reserves more than 600B). But they won't do it)))
ECB US started sanctions on Central BANK of Russia. That means, even if Russia would like to sell it's gold, who will buy it?
China? Iran? India
I don't think that any country on a planet will break US and EU sanctions. Automatically they will get big penalty.
That's why I think local price of GOLD could rise.
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