World gold prices recovered slightly
Gold prices reversed to increase when receiving information that Russia proposed that BRICS member countries create their own precious metals trading floor.
The news follows a statement adopted by the leaders of BRICS countries on Wednesday, advocating increased precious metal exchanges between members on the basis of common quality standards.
“This mechanism will include the creation of metal price indicators, standards for the production and trade of bullion, recognition of market participants, settlement of bullion,” said Russian Finance Minister Anton Siluanov. Clearing and auditing in BRICS countries. Participating countries will have a reliable method for stable exchange transactions.”
The Russian Ministry of Finance added that it expects the BRICS precious metals exchange “to become the main regulator of precious metals prices.”
☄️. Important support and resistance levels: The nearest support zone is 2712,000 - 2715,000, while the strong resistance zone is at 2740,000 - 2743,000. If the price surpasses 2750,000, the upward momentum could extend to the highest level from the beginning of the year at 2758,000 and beyond to 2800,000.
The news follows a statement adopted by the leaders of BRICS countries on Wednesday, advocating increased precious metal exchanges between members on the basis of common quality standards.
“This mechanism will include the creation of metal price indicators, standards for the production and trade of bullion, recognition of market participants, settlement of bullion,” said Russian Finance Minister Anton Siluanov. Clearing and auditing in BRICS countries. Participating countries will have a reliable method for stable exchange transactions.”
The Russian Ministry of Finance added that it expects the BRICS precious metals exchange “to become the main regulator of precious metals prices.”
☄️. Important support and resistance levels: The nearest support zone is 2712,000 - 2715,000, while the strong resistance zone is at 2740,000 - 2743,000. If the price surpasses 2750,000, the upward momentum could extend to the highest level from the beginning of the year at 2758,000 and beyond to 2800,000.
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