Bit of extra observations I found interesting tonight.
Russian and Turkey banks buying gold
Wiser to pay an extra $500 ounce for gold than loose 60% or more of the value of your currency in foreign exchange losses.
Russia $600 bilion in reserve cash.
https://www.bbc.com/news/business-60543994
Russia and turkey buying gold as both currencies fall.
https://www.thenationalnews.com/business/economy/2022/03/07/russias-central-bank-resumes-buying-gold-from-domestic-producers-as-sanctions-bite/
Turkey bought more than 10 tonnes in January
Here is something that crossed my mind, Turkey anticipated a currency collapse with advance knowledge of Ukraine invasion and bought up.
gold $3500 aud with 21 days, page-2
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