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“It is both painful and funny to see Russians repeating the same mistake again and again.”
That mistake is turning to foreign currencies as a hedge against crisis instead of physical gold, according to Russian coin dealer Dmitriy Balkovskiy. In an article for Casey Research which we outlined in Monday’s blog, Balkovskiy recalls incidents he...

What can the recent crash of the Russian ruble teach us about gold ownership? Dmitriy Balkovskiy, a Russian coin dealer in Moscow, has some insights.
On December 16, 2014, a day deemed the “Russian Black Tuesday”, the ruble dropped from 58 to 72 per U.S. dollar. In an article for Casey Research, Balkovskiy recalls some incidents he witnessed that day and thereafter and uses them to make his case for...

The people of Lydia, an ancient kingdom in modern-day western Turkey, were the first people to use gold and silver coins around 610-550 BCE. Today, Turkey is the fourth largest consumer of gold in the world and accounts for 6% of global consumer demand...

Data from the Commodity Futures Trading Commission released on Friday showed hedge funds increased their long positions on gold by 19.7% in the week of January 20 – a two-year high.
Short positions fell, translating to a net 27% more long positions. The last time hedge funds had this many long positions in gold was December 2012, when gold was trading at over $1,700/oz. Silver positions saw an even stronger shift, from a net short...