Gold Bullion & Mines rises as G7 nations move to ban bullion imports from Russia SECTIONSGold rises as G7 nations move to ban bullion imports from RussiaReutersLast Updated: Jun 27, 2022, 07:20 AM IST
Biden, G-7 Will Ban Russian Gold Imports Tyler Durden's Photo BY TYLER DURDEN SUNDAY, JUN 26, 2022 - 01:56 PM
the biggest buyers of gold in recent years have not been G7 countries (United States, France, Canada, Germany, Japan, the United Kingdom and Italy), many of whom naively sold much if not all their gold in the recent past and have refused or simply don't have the funds to restock; instead purchases have all been by developing nation central banks (like India and Turkey, and of course China which however has a habit of only revealing its true gold inventory every decade or so) who have been quietly preparing to do what Russia is doing by dedollarizing and instead allocating capital into a counterparty-free asset.
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