Russia Is Buying A Lot Of Gold

The relationship between Russia and the West is not getting any better. Recently Putin returned early from the G20 summit where he was criticized multiple times and it quickly became clear that the president of Russia was not going to sit around and take it.

It feels like the arguments are not getting resolved at all and this has caused the economic turbulence we have all been the witness of. Economic sanctions are flying around both ways with no end in sight; that much is certain.

The citizens of Russia, however, are supporting Vladimir Putin without a shadow of doubt despite the economic problems that the country is facing. The president is praised by the majority of the Russian people, which obviously gives him plenty of confidence to carry on.

Putin Keeps Buying Gold

Since the strong price drop in the month of September, the Russian government has started to buy enormous amounts of gold. It is clear that the Russian government is busy preparing for a potential war; perhaps one of the financial kind. Russia has been buying tons of the yellow precious metal.

It seems like it is trying to protect its own currency by these actions. The ruble has been going downhill lately and it seems like the Russian government has understood that action is required. Of course, the strong Russian demand for gold could impact the gold price very positively.