SCO & BRICS latest news and insights
By Rhod Mackenzie
Gold production in Russia is likely to peak at 600 tonnes by 2030, before beginning to decline. This was reported by the newspaper Vedomosti, which refers to a study by the Federal State Budgetary Institution TsNIGRI.
600 tonnes is the base scenario, whereas production is expec...
By Rhod Mackenzie
The Foreign Affairs committee of the US congress has backed the transfer of the Russian assets that are currently frozen abroad to the Ukraine, on the condition that "if necessary, the funds will be transferred to the US government." However, this idea lacks support within the Eu...
By Rhod Mackenzie
Brent crude prices have rebounded to $90 per barrel, while WTI has soared over $86 per barrel due to the alarming deterioration of the Middle East situation, an area that produces almost a third of the world's oil.
Gold predictably rose on fear of risk. The yellow metal, whose...
By Rhod Mackenzie
For most of the last decade, the price of gold has been driven by the cost of money (interest rates): the lower the base rate fell, the higher the gold price went, and vice versa. Most analysts say that gold is the "anti-dollar", i.e. the asset that investors who do not trust fia...
By Rhod Mackenzie
The Russian goldminer Polymetal which is the country's second largest precious metals producer and ranked in the world's top ten in terms of its reserves and production is not considering the possibility of any partial sale of its Russian assets but one buyer for all of them, ac...
By Rhod Mackenzie
Russia's gold reserves stood at 2,332 tonnes at the end of last year - an all time record level, which according to the World Gold Council. Russia continues to rank fifth in the world in gold reserves. This trend is explained by the country's abandonment of toxic reserve currenci...
