Market related, not geology, page-30

There's a lot happening in the world macro wise. Big moves. Fast moves. Unusual times. Price of oil reversing, treasury rates reversing, forward looking markets pricing in recession. Inflation first, interest rates higher and then reverse. Will POG rise on higher or lower rates.

Was thinking about the G7 news. Russia is a large buyer of gold as well as I think the third largest producer in the world (about 10% of world production). Australia is second largest producer and China is top.

If Russian imports are banned, who could Russia sell to? Maybe China, India, Russia, Turkey, Saudi Arabia. I doubt they'd abide by the ban.

Perhaps it will end up as two markets.

Russia produces 300 MT gold a year. It's reportedly planning to raise its gold output in a bid to becoming the worlds largest gold producer by 2029.

So far gold price hasn't moved on the news.

Logically it should reduce supply if no country purchased from Russia but I doubt that would be the case.