BRICS consider setting up gold trading system- RT article

Here is an interesting one.
https://www.rt.com/business/410968-brics-gold-trade-system/

a quote:
The Bank of Russia has already signed a memorandum on developing bilateral gold trade with China. The regulator plans to form a single trade system with the People’s Republic of China in 2018

So, quite soon we might witness some developments in this direction or it will just stay as a memorandum.

 

[QUOTE="greedy Kobold, post: 1036947, member: 18747"]Here is an interesting one.
https://www.rt.com/business/410968-brics-gold-trade-system/

a quote:
The Bank of Russia has already signed a memorandum on developing bilateral gold trade with China. The regulator plans to form a single trade system with the People’s Republic of China in 2018

So, quite soon we might witness some developments in this direction or it will just stay as a memorandum.[/QUOTE]

Good on you Greedy, I've been banging on about the OBOR, or One Belt One Road for weeks but the peeps on this website are more interested in flipping and trading to realise the big picture.

It's good to know that there are people out there who are into the BIG PICTURE.

At least they are flipping & trading in REAL MONEY (not Crypto-CRAP). _JLG.

All of the nay-sayers and uneducated peeps out there WAKE_UP

https://www.silverdoctors.com/gold/...-single-gold-trade-system-with-china-in-2018/

 

Hey hey, Johngalt.

I don't think the community gave up on gold/silver. People just diversify/invest.
I guess everyone has his own agenda.

However, as we discussed earlier both Russia and China buy alot of gold.
Hence, IMO it is logical expect them to go ahead for bilateral gold trade.
(I am not that optimistic for the whole BRICS, as it IMO might take some time)

It is also matches with another discussed topic -major tensions between US and Russia.
In this light, there was another interesting piece from CBNC
that looks at the things from the same perspective.

'New normal' of geopolitical risk likely to boost gold prices in coming years,
Citi forecasts
https://www.cnbc.com/2017/11/20/new...ld-prices-in-coming-years-citi-forecasts.html

We will see what happens