3 August 2023
Over 40 nations under the BRICS+ coalition are discussing the feasibility of a gold-based financial institution at their Johannesburg meeting, symbolizing a slow global shift away from U.S. dollar dependency. This “de-dollarization” doesn’t spell doom for the U.S. dollar but rather emphasizes the need for alternative currencies in critical situations. This trend coupled with growing investments in gold sectors globally, central banks buying gold at record rates, and emerging gold-based systems indicate a gradual re-monetization of gold that may influence global central bank reforms.