/ world today news/ Recently, our country has been active in the world gold market. The country’s gold reserves are a very serious matter. Not surprisingly, other countries have begun to closely monitor the Kremlin’s tactics. Some even decided to copy the Russian maneuver.
For example, Warsaw. Polish authorities suddenly came to the conclusion on their own that they should start increasing their reserves of the precious metal.
To complete the picture, let me remind you that the collective West, in particular the United States, imposed a number of economic restrictions on our country. We had to somehow fight the sanctions or get around them. In Moscow it was decided to bet on gold. As it turned out later – the proposal was correct.
Strategy
Once this decision was made, they began to implement it. The first step is to gradually sell US securities at the best prices. The second step is to purchase yellow metal bars with these funds.
It was necessary to soberly assess the situation in which our country finds itself and what situation is observed in the entire foreign policy arena. The reality turned out to be that buying gold had good prospects.
The British publication BullionVault notes that, being under US sanctions, the Russian Federation buys most of the gold mined by local companies.
The most curious thing is that in 2020 Russia abandoned this initiative. Last year we purchased only 27 tons of precious metal. This figure turned out to be really extremely small compared to the last five years. Russia purchases approximately 205 tons of gold each year. In addition, a very large part of the gold mined in the Russian Federation was also exported.
Economic experts claim that such a decision will soften the blow from falling prices of “black gold” on Russian foreign exchange reserves.
At the same time, experts have no doubt that sooner or later Moscow will start using its strategy again and will return to the precious metals market, kicking down the door.
Now back to Poland
Warsaw is currently ranked among the top twenty gold holders on the planet. It plans to follow the example of the Russian Federation and carry out its golden maneuver. More news is emerging from Poland, which says Warsaw intends to buy around 100 tons of gold over the next few years.
The situation was commented by Adam Glapinski, who heads the Central Bank of Poland. He emphasized that by betting on gold, Poland plans to increase its economic power and improve its position in the geopolitical arena. So to speak, to make his perception of the world more monumental.
Even now, Warsaw is repatriating 100 tons of the precious metal from the Bank of England. I wonder how much more gold she’ll want back from the Kingdom, which doesn’t like paying its debts.
Translation: V. Sergeev
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