BRICS currency could roil Gold
Updated
BRICS economies and around 40 friendly countries are likely to support a new gold-backed exchange standard using their increasing gold reserves to back a new international currency unit, which is yet to be named.
A gold-backed BRICS currency would be a "potential disruptor" highlighting the increasing importance of asset-backed support in the global credit market. This effort aims to bring the world's monetary system (primarily the US) back to a financial system backed by gold assets.
A gold-backed BRICS currency would be a "potential disruptor" highlighting the increasing importance of asset-backed support in the global credit market. This effort aims to bring the world's monetary system (primarily the US) back to a financial system backed by gold assets.
Note
🐾 BUY XAUUSD zone 1941 - 1939⚠️ Stop Loss : 1934
💲 Take Profit 1: 1945
💲 Take Profit 2: 1950
💲 Take Profit 3: 1960
Note
In technical terms, gold futures speculators have lost some overall technical advantage in the short term. The bullish side aims to close above a strong resistance level at $2,028 in July. The bearish side aims to push the futures contract below a solid technical support level at $1,939 in June. The first resistance level is seen at $2,000, followed by this week's high of $2,010. The first support level is seen at $1,975, followed by $1,968.Note
🐾 BUY XAUUSD zone 1931 - 1929⚠ Stop Loss : 1924
💲 Take Profit 1: 1940
💲 Take Profit 2: 1950
Note
In its announcement, Fitch said it sees the U.S. general government deficit rising to 6.3% of GDP in 2023, up from 3.7% in 2022. The deficit is expected to grow by 6.6% and 6.9% of GDP in 2024 and 2025, respectively.
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