Gold market: United Front of the BRICS

ArticleMiningDecember 28, 2017 - 3:18:27 AM

During a visit to China in April 2017, the vice-president of the Russian central bank, Sergey Shevtsov, discussed the idea of cooperation between BRICS and the gold market. The contours of this cooperation are beginning to be revealed, with physical gold at the centre of this project.

“We (the Central Bank of the Russian Federation and the People’s Bank of China) discussed gold trading,” he said. “The BRICS countries (Brazil, Russia, India, China and South Africa) are major economies with large reserves of gold and an impressive volume of production and consumption of the precious metal. In China, gold is traded in Shanghai, and in Russia in Moscow. Our idea is to create a link between these cities so as to intensify gold trading between our markets.”.....

Source:Live Trading News

On the same subject