Russian Gold
Grant Williams pieced together some of the same things I did in my Russia piece which you ran last April, about why the Russians are buying gold (when economists are advising them to sell it) and why Russia’s balance sheet is in great shape compared to those of Western nations. The ruble’s recovery still confounds the mainstream! But Grant takes the analysis a step further to show that oil may be trading in gold terms again, tying its price action to the proposed Shanghai crude oil futures contract (which has been delayed) and the Shanghai gold market. When that oil … Continue reading →
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