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President Vladimir Putin confirmed at the 2025 summit in Rio de Janeiro on Sunday that 90% of all transactions were settled in local currencies among BRICS members. The majority of the cross-border settlements were paid in rubles along with other local currencies, revealed Putin. He also revealed at the BRICS 2025 summit that transactions in local currencies are booming. “Friendly nations” are putting forward their national currencies for trade deals and not the US dollar for payment settlements. This makes the alliance much stronger as it’s the only bloc that’s actively taking on the West. “The use of national currencies in trade among our countries is steadily growing. In 2024, the share of our national currency, the ruble, along with the currencies of friendly nations, accounted for 90% of Russia’s settlements with other BRICS states,” Putin emphasized at the 2025 summit. Also Read: Video: BRICS Unveils 200-Denominated Bank Note at 2025 Summit? Local Currencies Rule the...

We are only a few days away from BRICS deciding to establish a precious metals exchange during the 2025 summit. Reports are doing the rounds that the alliance intends to launch its own index that tracks precious metals exchange. The move is intended to move away from the Western-backed indexes and trade in the new indices formed by the bloc. BRICS member Russia was the first to float the idea of establishing a new precious metal exchange in October. Russian Finance Minister, Anton Siluanov was in talks with other members about the idea to ensure fair pricing and trade growth. If approved, the precious metals exchange would be an alternative index not backed by the West but solely operated by BRICS. The development would significantly impact gold and silver prices and put a wedge in the broader commodity markets. A newly-launched BRICS precious metals exchange, if approved, might reshape price discovery in gold, silver, and other commodities. Chart patterns and trading strategies could ...

There have been a lot of questions about the US dollar’s (USD) domination over the last decade. Despite the greenback making up for a majority of global trade, there is a growing sentiment among many nations to move away from the USD. The de-dollarization trend has taken a substantially strong in recent years. Also Read: Donald Trump Reacts to US Stock Market Crash, The President Says This Warren Buffett Speaks On The Future Of The USD Source: Money.com / Eddie Lee / Getty Images Warren Buffett is among the elite class of traders. In a 2015 interview with Business Insider, the veteran trader said the US dollar will reign supreme for at least another 50 years. Going by Buffett’s estimates, the USD could remain the dominant global currency till at least 2065. His arguments could help fight the de-dollarization momentum. Buffett stated, “ I think the dollar will be the world’s reserve currency 50 years from now. I think the probabilities of that are very high .” Whe...

Jim Cramer, the host of CNBC’s Mad Money, has shared his backing of US President Donald Trump’s Tariff plan. Speaking on CNBC’s Squawk on the Street program, Cramer said, “I am pro-tariff, absolutely. I hate free trade…” The CNBC analyst went on to add, “I think it’s been an embarrassment for our country. It’s cost us fortunes. Everybody picks on us. There’s just no end to it.” Trump has announced several tariffs to be imposed on foreign countries, including Mexico, Canada, and China. Most recently, Trump imposed 25% tariffs on all imported vehicles and foreign-made auto parts. Next week, he is also expected to introduce additional tariffs, labeled as “reciprocal tariffs,” which are expected to be somewhat milder than previously anticipated. Cramer has long voiced skepticism about free trade, openly supporting Trump’s earlier tariff policies. In late 2019, Cramer said, “If we’re going to trade jobs for cheap stuff, at the very least, we should get a g...