This is John Batchel. The price of an ounce of gold goes through $5,000, expected at the end of the year, not the beginning.

Michael Bernstam, my colleague, looks at gold and looks at Russia. Russia makes gold, has gold, buys gold, sells gold.

Making money, Michael explains, almost or nearly, or perhaps the same as, they used

to make on oil. More of this tonight. Here's Michael. And the government accumulated gold

when they sold oil. They accumulated gold in the sovereign wealth fund, extra hundred metric tons.

And now, to cover their budget deficits,

they're selling gold and selling gold, and so if you look at the numbers, you will find that

in the beginning of the war, in the first months of the war, they accumulated 551 metric tons of gold. And a metric of gold in today's prices of course not in

those prices is 170 million dollars so now it's 160 tons left so they sold

almost 400 metric tons of gold making more money as they sell wait. They don't sell in the beginning of the year. They sell now in December. They sell now in January 26 and prices are going up because of all world events, of all wars, of all troubles. And they're making a good good deal of money so in the past we used to say

that oil is a black gold now we have gold and gold so the russians are now making as much money on

gold i mean the russian government the russian budget as they lost on the declining prices of oil