[heading]Despite Ukrainian Chaos, Kiev Still Wants Gold[/heading]
Allegedly one month ago, under the cover of darkness, Ukraine put its gold reserves onto a plane and shipped them to the US for safekeeping. (they should have asked Germany first about this)
Though this story is not confirmed, amid the chaos in Ukraine, the gold market keeps coming up. And for good reason…
Sure, Ukraine owes Russia massive gas debts and sizeable bond maturities pending. Nevertheless, the first thing Ukraine will spend its International Monetary Fund loan on is gold…one billion dollars worth of gold, in fact. This is a continuation of a trend in Ukraine.