Russia Wants Their Own Gold Spot Price - The Moscow World Standard

The eastern world continues moving against western world commodity price discovery market systems, as Russia plans a new gold price and silver price discovery alliance proposing its own international standard of precious metals exchange, dubbed the “Moscow World Standard” (MWS). 

The MWS would have Eurasian Economic Union partner nations such as Russia, Belarus, Armenia, Kazakhstan, and Kyrgyzstan. It aims to add major gold and physical precious metals trading nations like India, China, Peru, Venezuela, and other countries in both South America and Africa where precious metals are mined.

Moscow has decades of western vs eastern precious metals price data, and can also easily deduce that for decades running the London Bullion Market Association or LBMA system has allowed precious metals values to be artificially kept low. Moscow understandably believes the LBMA runs an unfair practice of precious metals price discovery that negatively affects precious metal exporters.