(MENAFN) The Bank of Russia started gold purchases the current week, but more crucially, between March 28 and June 30, the regulator is going to do so at a set price of 5,000 rubles (USD59) per 1 gram, increasing the prospect of Russia returning to the gold standard for the first time in almost a decade.
If the nation takes the next step, as suggested the current week, of selling its ruble-denominated commodities, the ruble, the United States dollar, and the inernational economy might be severely impacted.
RT chatted with Ronan Manly, a precious metals analyst at BullionStar Singapore, to obtain some explanations.
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