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The demand for gold is steadily rising, as global banks continue to stockpile gold in a massive new spree. Donald Trump’s tariff regimens have weakened the US dollar to a point where the USD is unable to regain its former glory. This rush has also been strengthening other asset classes such as cryptocurrencies, with Bitcoin, which is currently eyeing a new price spot of $123K. However, as of now, gold is emerging as the top asset for global central banks to hold around the world. Also Read: Gold Surges Near $3,360 After Weak Jobs Data Fuels Fed Cut Bets Gold Is Favorite Asset to Hold, Per World’s Central Banks Source: mmtcpamp.com As per the new stats shared by the Kobeissi letter, the World Central Banks’ gold stockpiling spree is yet to catch a break. The new statistics shared by the KL platform noted how the world’s central banks have aggressively bought gold in Q2, amounting to 166.5 tonnes. Moreover, the amount represents a hike of 41% above the average quarterly basis between 201...

India reaffirmed on Thursday that they do not align with the BRICS de-dollarization agenda and will not ditch the US dollar for trade and cross-border transactions. The statement comes just a few days after the 17th summit in Brazil, where member nations discussed the future prospects. External Affairs Minister of India, Randhir Jaiswal, confirmed that BRICS member nations discussed settling trade payments in local currencies. However, he stated that there were no talks about the formation of a new BRICS common currency. “De-dollarization is not something which is on the agenda,” he said, assuring that India does not align with BRICS ideology. “Cross-border payments, yes. BRICS have talked about local currencies, but de-dollarization is not something that is there on the agenda,” he said. The remarks come after many developing countries are discussing advancing the de-dollarization initiative. Also Read: The Mighty BRICS Folds Under Pressure India Sides With the US o...