Russian Ruble vs. Gold Price
HalfDime
Posts: 279 ✭✭✭✭
This shows the Russian Ruble and the price of gold. It has risen at three times the rate of the price of gold in US Dollars.
"Russian consumers are buying record amounts of gold, according to data from the World Gold Council.
The organization said in a report published on Wednesday that Russian consumers purchased 75.6 metric tons of the precious metal last year, representing a 6% jump from 2023 and a 62% increase from 2021, right before the war in Ukraine broke out.
Russians have been piling up gold — which investors often view as a safe-haven asset— as surging inflation and strict sanctions eat into the value of the ruble domestically and internationally.
Russia's statistics agency has said the country's inflation rate in 2024 was 9.5%, the highest level since the war broke out in February 2022, and recent data indicates prices have continued to rise in the first few weeks of 2025."
Comments
I guess they've lost faith in their currency.
Knowledge is the enemy of fear
is that you hillary?
If they had just accepted the "reset" button. Lol
I wonder how much gold the average Russian citizen holds?
Knowledge is the enemy of fear
I've said it here many times: "The price of gold reflects faith in the currency in which it is priced."
Glad to see the redneck finally came to his senses, at least on one occasion.
The price of gold is set by faith, or lack of, in the currency it is priced in.
Big difference between rubles and dollars.....well at least there used to be. LOL. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
that's why they have an exchange rate. It's all money, simply in a local form. Fortunately they all recognize the value of gold.
The price of gold is set by faith, or lack of, in the currency it is priced in.
I knew i would draw.you out, but you missed the hand. Why have the Russians lost faith?
Knowledge is the enemy of fear
Ya think funny money is only printed in the US?
The price of gold is set by faith, or lack of, in the currency it is priced in.
They print a currency called a rouble, not "funny money". Why have the Russians lost confidence in their currency?
Knowledge is the enemy of fear
And when any nation creates it out of thin air it becomes "funny money." Zimbabawe reminds us this is a major cause of loss of confidence with a currency.
The price of gold is set by faith, or lack of, in the currency it is priced in.
Zimbabwe? Lol, a country with a GDP 1/30th of an average size US city. We may currently be a train wreck, but we are no Zimbabwe. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
nope, not yet, but getting there
The price of gold is set by faith, or lack of, in the currency it is priced in.
Dictatorships do tend to speed up the demise. Is that why Russians have lost faith? And Zimbabwe's collapse was a dictatorship, as are countless other throughout history.
Knowledge is the enemy of fear
get your head out of the sand. quit trying to make everything a political issue. . . it's a money printing issue.
The price of gold is set by faith, or lack of, in the currency it is priced in.
You'd think that countries would learn the money printing lesson of the Weimar Republic.
Those who forget the past are condemned to repeat it, a wise philosopher once said, and he was right.
According to some here it can't happen here cause we are the mighty USA.
The price of gold is set by faith, or lack of, in the currency it is priced in.
Even the mighty fail when the rule of law is dismissed, checks and balances are destroyed, financial and monetary systems are attacked, emphasis on research and higher learning is chastised and control over dissemination of information is asserted.
The mighty can become weak very quickly.
This is not comment on politics.
Knowledge is the enemy of fear