According to the analyst on precious metals, such a development of events will not mean direct coverage with gold. In his opinion, this decision can be described as "the best mousetrap". The bottom line is that gold is becoming a currency again, and this is really great news for all investors in this precious metal.
At present, the so-called "unfriendly" countries are reluctant to pay in rubles as this will strengthen the Russian currency, but it seems that they are reluctant to pay in gold either. “Why don’t they just want to pay in gold? What is the problem? Isn't gold too valuable? Fisher said.
The key question, he says, is whether countries will actually buy oil from Russia for gold: happens, what then will be the cost of oil and gold in reality.
Germany and other European countries may not be able to afford to stop buying oil from Russia, Fischer said. However, the Germans themselves are to blame for this situation, which, with its energy policy, has made itself dependent on other supplier countries.