There are various scenarios that may play out. Producers will slowly take up selling oil to China and get paid in Yuan. They may convert to Gold. Will push Gold price higher. China largest global importer of oil now. They want cheap oil for projects and would prefer higher gold price obviously. If less $$$ needed in Petrodollar system more $$$ head back to USA and inflation increases, US dollar devalues and Gold Silver go up. More Chinese OBOR (one belt one road) projects means more copper use. Chinese are looking for deals with producers/miners globally for Gold Copper Silver and Cobalt. SCI is well placed if they get mine up and running to sell direct to Chinese/Japanese etc. China and Japan have a thawing and improving relationship especially within business and investment. Russia and Japan also meeting positively. Russia and China good relationship so logical Russia would suggest to Japan to be collaborative with China etc...
Cobalt price could easily double or treble in a few years. Early days if EV's and other uses.
Russia is building massive Silver hoard. Word has it they will release a Silver Rouble without face value so will be 1/2oz or whatever and value will be determined each day. A novel and smart idea. Gold and Silver will return to the centre of monetary system. I can only imagine when these debts globally blow up just how high precious metal prices will go. Likely to shock.
JFI
SCI Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
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