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Question about the price of gold in light of the Russia gold ban

Usc96

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So the EU and US have decided to ban gold purchases from Russia, yet the price of gold continues to go down. Not sure what they are teaching in today's woke university economics classes, but when I was in college in the late 80s we learned about how basic supply and demand results in an efficient price searching mechanism. As in, LESS supply means a HIGHER price.

In the present situation the SECOND or THIRD biggest gold producer in the WORLD is cut off, so less supply. When did LESS supply start meaning LOWER price?


 
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<SLV>

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Paper gorilla holding it down.

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nickndfl

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The manipulators are trying to maintain control of the $USD and short gold to their benefit. I supposed lots of unaccounted for tax dollars go to institutions like JP + GS to paper over their losses for the greater good.
 

Jodster

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you’re watching the perfect storm develop.
 

Goldbrix

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The Comex and LBMA Are Glorified Bucket Shops.

Definition of Bucket Shop starts at approx. 5 min. mark:
 

nickndfl

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Turns out some of those gold Britanias people been buying are Russian gold. I like their reverses very much. They are classier than maples.
 

Voodoo

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Gold is gold. No such thing as Russian gold or Merican gold and what-not. At worst it's caused some supply chain issues. Polymetal (big russian miner) said output was down like 7% ish and had some mined but not refined.
 

TAEZZAR

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Bucket shop owner gets proper "early retirement".
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nickndfl

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It was reported the UK had been buying lots of Russian gold in the form of bars. Undoubtedly to sell low premium Brits. They also have IMO, the nicest platinum coins and I have them from many countries.