Commodity Trade Mantra

Posts Tagged ‘Ukrainian Hryvnia’

Ukraine Currency Collapses Nearly 70% Against Gold In 4 Months

Year to date, gold in hryvnia has surged by 69% from 9,992/oz to 16,880/oz, or more correctly, Ukraine’s national currency has collapsed by 69% against gold in less than four months. This week alone hryvnia has fallen by 7% against gold. The lucky few who own physical gold are being protected from the currency collapse.

Ukraine Bank Runs Could Soon Be Seen In EU And U.S.

The plunge in the Ukrainian hryvnia this week and the risk of bank runs, not to mention the risk of contagion for European banks exposed to Ukraine should support gold. Rising geopolitical tensions between Russia and the West over developments in the Ukraine should also be supportive.

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