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Win 500 Silver Eagle Coins, enter here: SUBSCRIBE to Our Channel: Today a Russian state-run media channel with one of its foreign embassies as the source, added to building speculation and reports that Brazil, Russia, India, China, and South Africa, also known as BRICS nations, will introduce a new trading currency linked to gold shortly. Ongoing claims are that an announcement is expected to be made during the BRICS summit this coming August 22-24th in South Africa. Yet this same week, the BRICS Bank Vice President and acting CFO Leslie Maasdorp, publicly stated on Bloomberg that the group doesn't have any immediate plans to create a common currency: #xj4y7vzkg Eight months in a row now China has added official gold to its reserves, adding 21 tons in June 2023 bringing its official sum to now 2,113 metric tonnes. Of course, China also holds a lot of unofficially not yet reported gold bullion reserves with its military and state-run banks and sovereign wealth funds. Throughout this 21st Century and especially since the 2008 global financial crisis, physical gold bullion exports have increasingly gone east to major developing economies like India and China key leading nations in the BRICS. As well, Russia, Turkey, and other nations BRICS aligned are major players in the modern physical gold world. So it makes sense that the BRICS may want a significant impartial settlement value unit to help develop and foster a more multipolar world order ahead. That is all for this week's SD Bullion Market Update. As always to you out there. Take great care of yourselves and those you love. Royalty-Free Music provided 'Vanguard' by Scott Buckley - released under CC-BY 4.0.
