It’s Official! Russia Central bank Announces Ruble Bound to Gold! 5000 Rubles per Gram
Rubles are bound to Gold at 5000 Rubles per gram, and there are 32 grams per TROY ounce, meaning one ounce of gold would cost 160,000 Rubles, then converting that to US Dollars means Gold is $1600 per ounce when using Rubles, instead of $1,928 per ounce using Dollars.
So worth less than with dollars? Trying to understand