Dmitry sipped his coffee drink at his favorite café in Moscow, flipping through the newspaper in front of him. It was full of bad news: currency troubles, ongoing sanctions from the West, rising inflation, and more.
But he ignored all that. He turned to the investment section and began to scan the page, looking for the latest price of one specific investment. He went past the headline that screamed Russia’s inflation rate was up to 11.4% last year, as well as the article detailing the ruble’s debilitating 46.5% fall. He knew all those things and had experienced them firsthand.
He went directly to the page that quoted the price of gold in rubles.
And there it was. And this time, it wasn’t just a short price quote, but a full article on the topic of gold, starting with a headline that warmed his heart.
“Gold Price in Rubles Rises 73% in 2014”
The price of gold rose against ALL currencies in 2014—except the US dollar. Yes, gold was up in the euro, Japanese yen, Swiss franc, Canadian dollar, British pound, Australian dollar, New Zealand dollar, Chinese renminbi, Indian rupee, Swedish krona, Brazilian real, Israeli shekel, and South Korean won.
Source Casey Research
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