Russia’s Central Bank Is Scrambling To Buy Gold As Ruble Collapses

Russia’s central bank said on Sunday that it would start buying gold on the domestic market again, in the latest move to try to stabilize the financial markets and its reserves after Western sanctions targeted its banking system. The central bank of Russia came under Western sanctions over the weekend, after the EU, the U.S., and allies decided to remove some Russian banks from the international SWIFT banking system and imposed restrictions on the Russian central bank in response to Russia’s war in Ukraine. “This will ensure that…