Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.
Saudi Crown Prince Mohammed bin Salman heralded the talks as a"historic new phase of relations with China." Lo added that backing a renminbi-oil trade with gold will be instrumental in building its petro-yuan system. He noted that because of Western economic sanctions, led by the U.S., Russia has adopted China's CIPS for its oil trades, bypassing the U.S. Dollar-dominated SWIFT global payments system.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: