Opinion: Russia just made a case for owning gold — and nobody noticed

MarketWatch/Brett Arends/3-28-2022

photgraph of pile of Napoleon 3 100 franc gold coins
“Much more interesting was Zavalny’s main point, even though it has been mostly overlooked. If other countries want to buy oil, gas, other resources or anything else from Russia, he said, ‘let them pay either in hard currency, and this is gold for us, or pay as it is convenient for us, this is the national currency.’”

USAGOLD note: The implication, according to Arends, is that Russia would convert those hard currencies to gold. He goes on to say that he is “gold agnostic” but that there should be “at least some gold in a long term investment portfolio. “Gold is gold,” he says, “and someone will always take it.”

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