Huge GOLD News From Russia! How Many Ounces Of Gold & Silver Are You HOLDING? Alasdair Macleod

Huge GOLD News From Russia! How Many Ounces Of Gold & Silver Are You HOLDING? Alasdair Macleod

China and Russia, formidable global powers and longstanding allies are embarking on a concerted effort to challenge the dominance of the US dollar in international trade. This alliance has seen Russia encouraging Middle Eastern oil producers to abandon the USD, while China has lent its support to bolster this anti-dollar initiative.
Alasdair Macleod, Head of Research for Goldmoney, underscores how sanctions imposed on Russia have catalyzed innovation and forged stronger ties with other nations, particularly China. The looming threat of US sanctions against Chinese banks, aimed at disrupting Beijing's support for Russia's military endeavors, further underscores the escalating tensions.
Recent data from the Federal Reserve reveals that China divested another $22.7 billion in US Treasuries in February, reducing its total holdings to $775 billion. This move reflects China's growing concerns over the US using the dollar as a tool for geopolitical leverage, as evidenced by Janet Yellen's proposal to allocate frozen dollar assets from Russia to Ukraine.
Macleod also highlights the potential for more drastic actions by political leaders, such as seizing foreign reserves, which could have far-reaching implications for the global economy and the perception of significant currencies like the dollar and euro.
Meanwhile, the precious metals market has experienced a downturn, with gold mining stocks suffering their worst trading session in two months. This decline comes as the price of bullion retreats amid indications of easing geopolitical tensions between Israel and Iran. The recent streak of record highs in gold prices, driven by escalating geopolitical uncertainties, has encountered resistance following Iran's dismissal of recent Israeli strikes as adequately addressed.
Macleod acknowledges the challenges in identifying undervalued mining stocks but stresses the importance of thorough research and analysis in making informed investment decisions amidst fluctuating market dynamics.
Regarding historical trends, Alasdair Macleod underscores that silver's effectiveness doubles compared to gold during credit declines. He further cites China's industrial consumption, which historically suppressed silver prices while observing a shifting landscape, with India ramping up production of photovoltaic cells, which is heavily reliant on silver. Demand for Silver in the photovoltaic industry increased by 64% from 118.1 million ounces in 2022 to 193.5 in 2023, according to the World Silver Survey 2024, which the Silver Institute recently published. The report forecasts the demand could increase 20% this year, reaching 232 Moz.
The price of Silver is also heavily influenced by its demand in the industrial sector, mainly due to its superior electrical conductivity. Nations like the United States, China, and India significantly control silver prices due to their intensive economic activities.
As per Alasdair, Reliance Industries' new venture into photovoltaic cell production and increased silver demand could disrupt Chinese dominance over silver prices, potentially leading to a notable price surge.

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