Russia is considering resuming dollar-based trade with the United States, which could challenge the current strategy of BRICS nations aimed at reducing reliance on the dollar and increasing gold reserves to promote financial sovereignty. According to National Securities and Strategic Systems AI (NS3.AI), BRICS countries have collectively accumulated over 6,000 tons of gold, driving prices to nearly $7,000 per ounce. Should Russia and the US reach a dollar trade agreement, it may strengthen the dollar’s value, potentially slowing central banks’ gold purchases and causing a significant drop in gold prices. This development could mark a pivotal shift for global financial markets and investors, as gold is traditionally viewed as a safe haven during market uncertainty. BRICS members—Russia, China, India, Brazil, and South Africa—have focused on increasing gold reserves in recent years to reduce the dominance of the US dollar in the international financial system, aiming to promote alternative monetary instruments and mitigate economic risks. While the potential agreement may signal improved Russia-US relations, its financial market implications are complex. Investors should prepare for gold price volatility, and the long-term effects on the global economy will require careful assessment.
Source: binance
