Is Russia About To Back The Ruble With Gold?

By Chris Marcus, Rafi Farber of Arcadia Economics

Mar 19, 2022 at 6:41 PM EDT

It was another chaotic week in the financial markets, as Russian banks had to stop selling gold after being overwhelmed by demand. Let's take a look.

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It was another chaotic week in the financial markets, as Russian banks had to stop selling gold after being overwhelmed by demand, while the Fed raised rates, the nickel market reopened (for a little while before faltering again), and there was even news out of the CFTC.