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BRICS countries to set gold trading system

MOSCOW - 24. November 2017 - According to Singapore's BullionStar.com blog, BRICS countries (Brazil, Russia, India, China and South Africa) are planning to establish their own gold trading system. This was outlined in the speech by First Deputy Chairman of the Bank of Russia, Russia's central bank, at the annual Russian Bullion Market conference.

Gold bullion bars
The BRICS countries are planning to create their own gold trading system. 
(Image by Pixabay.com)

This would pose a direct competition to gold trading markets in London and New York, which are sometime accused of manipulating gold prices. Read the full article here:

https://www.bullionstar.com/blogs/ronan-manly/russia-china-new-gold-trading-network/

Fast forward to 2020: While this proposed gold trading system hasn't been set up yet, there's no denying that gold is slowly moving to become a major league investment, poised for major runs on the global stage (as Marin Katusa, of Katusa Investment Insights suggests).

This is not only Katusa's view, but also of many other famous investors, especially the likes of Douglas Casey, of Casey Research.

With all the current COVID-19 inspired money printing by the US and other central banks, there's no question that gold will play a major role in the coming years, as a smart hedge against increasingly worthless fiat currencies.

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