#daily_Geo #Fa_Eng Daily Geo-Political Gold Alert 1. Russia is increasing its domestic gold operations as a way to support its state finances amid frozen Western currency reserves. 2. Russia passes new laws to bolster internal defenses amid ongoing Ukrainian drone attacks — signals a prolonged conflict. 3. OPEC+ modestly hikes output by 137k bpd for November — suggests a cautious approach to supply. 4. There is a planned “pause” in production hikes for Q1 2026, potentially limiting a future supply glut. 5. Russia is shifting its reserve composition (more gold & yuan) due to frozen Western currency assets, increasing dependence on gold.
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