Die Erweiterung der BRICS-Staaten und das Gold
Five member states will become eleven on January 1, 2024. This could also have an impact on the gold price.
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The existing BRICS countries will soon be joined by Saudi Arabia, Iran, the United Arab Emirates, Argentina, Egypt and Ethiopia. Global geopolitical and economic realities may now be about to change. After all, the then eleven members account for nearly half of the world's population. In terms of global GDP, the counterweight to the G7 will then stand for around 36 percent (the G7 stands for 30 percent). It has long been rumored that the BRICS countries want to introduce a gold-backed currency. And other nations are flirting with joining. In any case, gold will retain its position as a stable store of value. The expansion of the BRICS countries could also bring an increasing turn to the precious metal. In terms of trade, it is particularly significant that the dominance of the U.S. dollar will be further and increasingly challenged. If trade were increasingly carried out in local currencies, this would undermine the power of the world's most important reserve currency. This is where the New Development Bank (NDB) comes in. Its president, Dilma Rousseff, has already announced loans of between eight and ten billion U.S. dollars, and almost a third of these are to be in local currencies. Diversification away from the U.S. dollar is the motto behind this. Whether uncertainties will arise from the stronger BRICS countries, the dollar may weaken more, gold and gold shares are always a good investment in the long run.
Among mining companies, U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - is pleasing. It has started its 10,000-meter drill program at its Whistler project (gold and copper) in Alaska.
But royalty companies such as Gold Royalty - https://www.commodity-tv.com/ondemand/companies/profil/gold-royalty-corp/ - should also be in focus. The precious metals-focused royalty and streaming company is focused on North, Central and South America.
Latest corporate information and press releases from Gold Royalty (https://www.resource-capital.ch/en/companies/gold-royalty-corp/ ) and U.S. GoldMining (https://www.resource-capital.ch/en/companies/us-goldmining-inc/ ).
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