1)Bloomberg Report – Russia Considering Dollar Return

2)Background – Russia & De-dollarization

3) Trade Pressure & Ukraine Factor

4) Dollar Strength vs Gold & Silver

5) Market Conclusion

 

1) Bloomberg Report – Russia Considering Dollar Return :

On the night of 12th February 2026, a report from Bloomberg stated that Russia is considering moving back to the US dollar as part of a broader economic partnership with US President Donald Trump.

Following this news:

• Gold and silver fell sharply

• They continued to decline on 12th Feb 2026

• On 13th Feb 2026, prices recovered slightly

The market reacted because a stronger US dollar generally pressures precious metals.

2) Background – Russia & De-dollarization :

Previously, Russia had reduced dependence on the US dollar:

• Buying crude oil, gas, and commodities in its own currency

• Making trade arrangements with countries like India and China by accepting local currencies for trade settlements

In 2022, when the United States froze Russian assets, Russia was removed from the SWIFT system.

After that, Russia created its own payment communication system called SPFS (System for Transfer of Financial Messages), which is used for communication between banks.

SWIFT is largely dominated by the US and European countries. Russia actively supported

de-dollarization efforts after these events.

3) Trade Pressure & Ukraine Factor :

The US reportedly made trade-related conditions with India, including reducing crude oil purchases from Russia. If India reduces imports, it could financially impact Russia.

At the same time, Russia requires strong financial support due to the ongoing conflict with Ukraine.

Now, Russia is reportedly considering returning to dollar transactions — but without stepping back from the Ukraine situation.

If this decision becomes official, countries supporting de-dollarization may also reconsider their stance.

4) Dollar Strength vs Gold & Silver :

There is a direct macro relationship:

• When the US dollar strengthens globally → Gold & Silver weaken

• When the US dollar weakens → Gold & Silver rise

Two days ago, gold had risen slightly due to war tensions involving Iran.

However:

• US inflation data came slightly strong

• Job expectations were 65,000

• Actual data came at 1,36,000

This stronger jobs data is positive for the US economy but negative for gold and silver, as it supports dollar strength.

5) Market Conclusion :

Russia is reportedly reconsidering its de-dollarization stance.

If Russia gives advantage to the US dollar again, the global dollar system may strengthen further. This could continue to pressure gold and silver prices in the short term.

However, geopolitical tensions and policy developments will remain key drivers going forward.