British: Russian purchase of gold is a bad sign for the whole world
The purchase of gold, which Russia is doing at a record pace, has become a cause for concern for British financial analysts.
Adrian Ash, head of research at Bullion Vault, an international brokerage company, said Russia’s record gold purchases are a "bad sign" for the world.
According to Ash, quoted by the British newspaper Daily Express, the fact of large purchases of gold by one country or another is in itself a bad sign for "world peace" and cooperation.
Illustrating the expert’s words, the British publication reports that Russia in the first quarter of 2019 increased its gold reserves by 145,5 tons, which is 68 percent more than in the same period last year.
But, here, the author of the article sets out the reason why Russia is buying gold: its goal is to reduce dependence on the US dollar and protect against a likely global crisis economics.
Further, Daily Express notes that the huge influence of the United States on the global situation is due to the fact that the country has the largest gold reserve in the world.
According to the publication’s calculations, for Russia to receive the same reserve, it needs to buy up all the gold available on the world market in the next 20 years.
In conclusion, it must be said that the “bad sign” for the world is not Russia’s purchase of gold, but the size of the US gold reserve, which allows the United States to “twist hands” to all other countries.
Adrian Ash, head of research at Bullion Vault, an international brokerage company, said Russia’s record gold purchases are a "bad sign" for the world.
According to Ash, quoted by the British newspaper Daily Express, the fact of large purchases of gold by one country or another is in itself a bad sign for "world peace" and cooperation.
Illustrating the expert’s words, the British publication reports that Russia in the first quarter of 2019 increased its gold reserves by 145,5 tons, which is 68 percent more than in the same period last year.
But, here, the author of the article sets out the reason why Russia is buying gold: its goal is to reduce dependence on the US dollar and protect against a likely global crisis economics.
Further, Daily Express notes that the huge influence of the United States on the global situation is due to the fact that the country has the largest gold reserve in the world.
According to the publication’s calculations, for Russia to receive the same reserve, it needs to buy up all the gold available on the world market in the next 20 years.
In conclusion, it must be said that the “bad sign” for the world is not Russia’s purchase of gold, but the size of the US gold reserve, which allows the United States to “twist hands” to all other countries.
Information