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The BRICS countries control more than 20% of the world’s gold reserves

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The BRICS countries control more than 20% of the world’s gold reserves

A recent report by the World Gold Council reveals that the BRICS nations (Brazil, Russia, India, China and South Africa) collectively hold more than 20% of the world’s gold reserves. This substantial amount highlights the growing economic power and influence of these emerging economies.

Main findings:

  • Russia leads the group: Russia tops the list with 2,340 tonnes of gold, representing 8.1% of global reserves.
  • China nearby: China follows closely behind with 2,260 tonnes, contributing significantly to the BRICS gold reserve.
  • Dominant Duo: Together, Russia and China account for 74% of the total gold reserves of the BRICS nations.
  • Various participations: While Russia and China hold most of the gold, the other BRICS nations also have significant reserves, with India leading the pack with 840 tonnes.

Implications of BRICS Gold Reserves:

The substantial gold holdings of the BRICS nations have several important implications:

  • Economic power: Their gold reserves solidify their position as major economic players on the world stage.
  • Financial stability: Gold provides a stable asset that can help mitigate economic risks and protect against inflation.
  • Geopolitical influence: The gold-backed BRICS currency could challenge the US dollar’s dominance and shift the global balance of power.
  • Investment opportunities: Rising demand for gold, driven by factors such as central bank purchases and economic uncertainty, presents potential investment opportunities.

Additional notes:

  • The BRICS Summit in Kazan, Russia, is expected to provide more details about the new coin and its possible launch date.
  • The introduction of a BRICS currency could accelerate the de-dollarization trend as more countries seek to reduce their reliance on the US dollar.
  • The new currency could also have implications for the price of gold, as increased demand from central banks and investors could increase its value.

Conclusion:

As the BRICS nations continue to expand their influence and explore new economic models, their gold reserves and the introduction of a new currency could have far-reaching implications for the global financial system. Investors and policymakers alike should follow these developments closely to understand their potential impact on markets and economies around the world.

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This article is for informational purposes only. The opinions and analysis presented here are those of the author and do not constitute financial advice. The Jerusalem Post (JPost.com) does not endorse or recommend any investment based on this information. Investors should consider their financial situation, investment objectives and risk tolerance before making any decisions. Consultation with a qualified financial advisor is recommended. JPost.com is not responsible for any investment losses arising from the use of this information. The information provided is for educational purposes only and should not be considered as trading or investment advice.




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