Is this the long anticipated collapse of the rouble?
The Russian rouble has fallen to its lowest value for a year, since shortly after Russia invaded Ukraine.
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People were impatient last year that the sanctions did not work immediately.
People were worried about other currency exchanges for the Ruble. People worried about China propping up Russia.
None of that mattered.
The same goes for the Western Cartel. We invest for tomorrow even if that is two years off or longer. The Western Cartel will gradually lower fossil fuel costs. Don’t be surprised to see gasoline at $60 bl. I wont put a time guess on that.
Gold is not being supported by Russia or China buying. Gold is being supported by the flood of western currencies from 2020 to about the end of 2021. The over supply if the western currencies is disappearing. Gold has down side.
Note Gold is not about the pandemic. The pandemic is just an overlay.
Gold is about China giving up the industrial supremacy while we wait on the US to pick up the lead globally in industrial production with Mexico.
We can go back to the tariffs to see Gold rising. As the US builds out the industrial base gold is going to fall significantly.