“The Fed,” says long-time gold market analyst John Hathaway in a Sprott Insights interview, ”doesn’t have a dial. It’s an either on or off switch. They’re either switching off the economy and crashing financial assets and the economy, or their crying uncle and caving in, which will likely open the door to more inflation. I think either outcome is positive for gold.”
“The importation into the United States of gold of Russian Federation origin is prohibited, except to the extent provided by law, or unless licensed or otherwise authorized by OFAC,” the statement published on the Treasury’s website says, noting that the ban comes into immediate effect.
The document specifies that the ban does not apply to Russian gold that was exported outside the country prior to June 28.
It also states that the UK, Canada, and Japan have joined the US ban.
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