June 27, 2022

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Ban On Russian Gold

Please click here for a chart of gold ETF (GLD).

Note the following:

• President Biden has announced that the US will ban Russian gold imports.  We are receiving a large number of questions from The Arora Report members about the impact on gold prices.
• Several other G7 countries are also considering a gold ban.
• Russia exports about $15.5B worth of gold every year.
• In our analysis at The Arora Report, the ban on Russian gold exports will not have much impact on the price of gold for the following reasons:
  • Unlike any other commodity, gold is not consumed.