Russia Insists On Owning Gold

Now May Be The Last Chance To Buy Gold At A “Low” Price Per Ounce

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Clearly, the Russia-Ukraine war has had an impact not just on those two countries, but on the entire world. All around the world, many of Russia’s allies have been breaking ties with the country as this was a war that has killed the innocent people of Ukraine for no reason whatsoever. Watching the news and seeing footage of this brutal war is simply disturbing. With all the sanctions that Russia has now since the inception of the war, its financial system has had to take a step back and head in a different direction. Russia has reportedly started to implement Bitcoin for international trading as their form of currency. Another form of currency that they have started to accept is gold. The U.S. dollar controls a majority of the financial system in the entire world, but all major countries that trade with the dollar have been aware of the steep decline the dollar has had. With this being a known fact, Russia has recently started to accept gold as a form of currency.

What Does This Mean?

For years and years, many have argued that gold may not be that important and that its value may not stand the test of time. Many investors gravitate towards high-interest-bearing accounts and stocks for quick returns and hopeful long-term investments. These types of accounts have high risk as well, which most investors won’t tell you. Since the 2020 global pandemic, gold has climbed to historic numbers in price per ounce and has given retirees a safe-haven investment with all the turmoil in the world today. Investors such as Warren Buffett, who was against gold, flocked to the precious metal to protect his financial portfolios. Now that Russia is accepting gold as a form of currency, it will only make the price of gold per ounce rise even more. Recently, gold climbed back past the $2,000 price per ounce barrier. Many have suggested that this is only the beginning of the ascension of gold to climb to even higher numbers which some have predicted may be triple the amount of what it is now. Russia has one of the world’s largest supplies of gold, and now with the imposed sanctions that are in place, Russia’s gold reserve will remain only for Russia and not as a resource for the entire world. Therefore, this makes gold even more lucrative and an investment option that most retirees and investors will benefit from. Gold has held steady between the $1,900-$2,000 range as of lately. But this range may soon be the lowest we may see gold.

What Does This Mean For You?

With many leveraging on the fact that gold may be rising sooner than later, now is the best to time evaluate your investment options in gold. Allegiance Gold can provide you with more education on why now is a great time to open a Gold IRA account. With all the turmoil that is currently going on in the world from inflation to gas prices, this will be a catalyst for gold to reach new heights. Russia now adding that they will accept gold as a form of currency also speaks volume for how lucrative the precious metal will become. For more information on a Gold IRA and what may happen to the price of gold, call 844-790-9191 today! Don’t forget to ask about receiving our FREE Gold IRA Guide!