Switzerland shipped more than 3 tons of gold from Russia last month. The purchase represents about 2% of Swiss bullion imports in May 2022. The country is a key refining hub that handles two-thirds of the world’s gold.
Following the start of Moscow’s military operation in Ukraine and the rollout of international sanctions, the London Bullion Market Association suspended all Russian gold and silver refineries from its list of approved suppliers.
The move was viewed by the industry as a de facto ban and most refiners refused to accept new gold from Russia, but the largest gold refiner on Earth so far ignored Zionist sanctions against Moscow.
This comes as the precious metal has been flagged as a possible new target for sanctions against the Kremlin. According to a Reuters report on Tuesday, EU leaders want to keep up pressure on Russia as they gather for a summit this week.
It is not clear if Switzerland, which is not part of the EU, will comply with the possible ban on Russian gold. But one never knows how the cards stack up when the two most corrupted nations on this planet confront each other.
In a brief interview with Michael McCrae of Kitco Mining, Matterhorn Asset Management principal, Matthew Piepenburg, addresses the interacting ramifications and core themes of the 2022 market economy to date.
Turning toward gold, reminds us that this precious metal is among one of the very few loyal and anti-fragile assets of 2022 which has protected investors from the jarring volatility otherwise symptomatic of the dying bull market in traditional risk assets. like stocks, bonds and property.
As for gold, Matthew explains why its bull cycle is only just beginning. Finally, when asked how investors should prepare for the volatility and markets ahead, Matthew offers insights on what assets to embrace and what strategies to avoid.
RT. com / ABC Flash Point Mineral News 2022.