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Gold’s long history of being used as a means of exchange has come back into focus with reports that Russia could be attempting to evade the economic sanctions imposed on the country using its huge gold reserves. The UK and US attempted to close this loophole with a ban on all gold transactions with Russia which saw a quick rise in the price of gold.

Gold set a new all-time record high last week and is currently playing its time-tested role as a safe haven in times of political and financial crises, resulting in investors flocking to the precious metal like never before.

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