ST. PETERSBURG, June 5 (RIA Novosti) – Gold could start playing a more important role in Russia’s reserves due to the influence of regional currencies, a Kremlin aide said on Friday.
Addressing the St. Petersburg Inteational Economic Forum, Russian President Dmitry Medvedev earlier said the structure of the global currency system would inevitably change with the increasing role of regional reserve currencies, and called for a reassessment of the potential role of gold in the global currency system.
“I do not think it [gold] will replace everything else – it would be naive and unjustified, but the growing role of gold amid the crisis could be a topic of discussions in the near future,” Arkady Dvorkovich told the TV channel Vesti.
He ruled out a retu to the gold standard monetary system.
