Russia confirms BRICS will create a gold-backed currency

The gold market could see new bullish momentum as the world could see a new type of gold standard.

  • The Russian government has confirmed that Brazil, Russia, India, China and South Africa, also known as BRICS nations, will introduce a new trading currency backed by gold.
  • The latest news is adding new momentum to the ongoing de-dollarization trend unfolding in the global economy.

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