Is the BRICS Currency Coming?

According to reports from Russia, the BRICS countries (Brazil, India, Russia, China and South Africa) want to introduce a new gold-backed trading currency in August. A new gold-backed currency, that would be already a sensation and could help the gold price upward. Whether this attack on the US dollar will really happen is still questionable. On the other hand, a de-dollarization trend has set in, driving banks to buy large amounts of gold. So, the BRICS summit in South Africa is eagerly awaited.

Speculation regarding the new currency alone could drive the price of the precious metal. However, India has already declared, and the country is the second largest BRICS country, that it is not in favor of a common BRICS currency. Nevertheless, one must immediately think of the gold standard and whether it might return. Even if the rumor is not confirmed in August, it may only be a matter of time before the BRICS countries create their own currency as a counterpart to the industrialized countries.

This would lead to a significant change in the financial market. After all, the five countries account for around 40 percent of the world’s population. In terms of economic output, they represent about 25 percent. And what must not be forgotten is that the BRICS countries are sitting on a great wealth of raw materials. In any case, gold is a valuable factor in any portfolio, and gold companies should not be missing from stock portfolios.

A company active in Mexico, Canada and the USA is Osisko Development – https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/  -. The company aims to become a medium-sized gold producer.

Fury Gold Mines – https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ –  is active in Nunavut and Quebec. In addition, Fury Gold Mines owns a large block of shares in Dolly Varden Silver.

Current corporate information and press releases from Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/ -) and Osisko Development (- https://www.resource-capital.ch/en/companies/osisko-development-corp/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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