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BRICS member China is accumulating gold for 10 months straight and diversifying its reserves to strike at the USD. The People’s Bank of China (PBOC) purchased 60,000 ounces of gold in August worth $215 million. Overall, China’s gold reserves have increased to $253.84 billion, making it 7.64% of its total foreign exchange reserves. The Communist country now holds 74.02 million ounces of gold in its reserves, according to the latest data from the country’s State Administration of Foreign Exchange. Also Read: China Releases BRICS Trade Index Showing Record Gains Since 2009 BRICS Sidelines USD in Central Bank Reserves, Hoard on Gold Source: Freepik.com Not just China, other BRICS countries like India, Brazil, Russia, and South Africa have been steadily accumulating gold. The strategic gold accumulation by BRICS is a response targeting the USD due to geopolitical uncertainty. “China released data today showing that its central bank has increased its gold holdings for the tenth co...

The leading global financial service firm, Morgan Stanley, has once again issued a stark warning against the US dollar. With Trump’s multiple tariff policies circulating, the dollar shows a weakening stance ahead, with Morgan Stanley predicting a 10% drop in its value in the near future. Moreover, the firm also cites “the delayed impact of tariffs on jobs and unemployment,” which are likely to keep pressuring the dollar in the long run. Also Read: Oil and Nuclear Deals Now Set in Yuan, Not Dollars Morgan Stanley’s Ominous Dollar Prediction Source: Yahoo Finance Morgan Stanley, in its recent press note, outlined new elements hounding the US dollar. The entry was quick to emphasize how the value of the US dollar has dropped 11% against major currencies, dubbing it as one of its biggest value declines to date. “The value of the US dollar against other currencies dropped about 11% in the first half of this year, the biggest decline in more than 50 years, ending a 15-year bull cycle.” ...