What Does the G7 Russian Gold Ban Mean for Gold Stocks?

What Does the G7 Russian Gold Ban Mean for Gold Stocks?
A stock photo of gold bars. Jingming Pan/Unsplash
Updated:

The G7 plans to announce a ban on Russian gold imports. But does that really matter for investors? While there hadn’t been an official Russian gold ban until now, this news isn’t exactly a surprise to the industry. And we’re seeing a lack of reaction in gold prices on June 28.

Typically, a ban on imports for a particular commodity sends prices soaring higher. Just look at what happened to oil after Russia invaded Ukraine. As it pertains to gold, prices also initially ticked higher on June 28, with the futures opening up by under 1 percent.
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