In a shifting global economic landscape, gold has emerged as a safe-haven asset. The increasing power of the BRICS bloc, alongside Russia and China’s heightened gold purchases, is expected to drive gold prices to new highs in 2024.

💰 Gold Price Forecast: $2,900 by 2024

Gold is projected to reach $2,900 per ounce in 2024, driven by the developments within BRICS, which holds 20% of the world’s gold and is preparing to launch a “monetary weapon” backed by this reserve.

📈 Russia and China Ramp Up Gold Purchases

Russia and China are intensifying their gold purchases to reduce dependence on the USD. The U.S. presidential election may not be the most significant event in 2024, while the BRICS summit on October 22 attracted over 40 countries, reshaping global power dynamics.

🏦 BRICS Promotes De-dollarization

This year, BRICS aims to enhance de-dollarization by establishing an internal payment system and working towards a common currency backed by gold. BRICS is becoming a formidable rival to the G7, with a GDP surpassing that of G7 nations and accounting for 43% of global oil production.

🌍 Shifting Political Landscape

The economic dominance of BRICS is solidifying, with the West unable to deter it. As political dynamics change and the real estate and stock markets stagnate, gold is expected to serve as a safe-haven asset and witness significant gains ahead.

=> Conclusion

The rise of BRICS and the strong gold-buying trend may signal the dawn of a new economic order. For investors, keeping a close eye on these developments is crucial for making informed decisions in the near future. Gold is not just a tangible asset but a symbol of stability and safety in an ever-evolving world.