BRICS Trading System Challenges Dollar Dominance with Precious Metals Exchange
The BRICS alliance has launched a groundbreaking precious metals exchange, enabling member nations to trade gold, platinum, and rare earth minerals without US dollar settlements. This MOVE accelerates de-dollarization efforts as the bloc controls 72% of global rare earth reserves—critical for tech and defense industries. Africa emerges as the linchpin of this strategy, with its mineral wealth determining the initiative's success.
Shanghai's Gold Exchange now serves as the physical asset hub for BRICS trade settlements, a direct response to Western asset freezes against Russia. The system processed 75% of rare earth minerals in 2025, coinciding with the dollar's worst performance since 1973. Protective tariffs by Western nations backfired spectacularly, with Brazil convening emergency meetings and China decrying 'global bullying'.
