Gold Rally At Risk as Russia’s Potential Dollar Trade Deal Shakes BRICS Strategy
The gold rally faces significant headwinds as reports emerge of Russia considering a return to dollar-denominated trade with the United States. This MOVE threatens to undermine the BRICS alliance's coordinated gold accumulation strategy, which has driven central bank purchases beyond 6,000 tonnes. COMEX gold prices already reflect the uncertainty, dropping from $5,626.80 to $5,046.30 per ounce following the Kremlin memo leak.
Market analysts warn that Russia's proposed fossil fuel and critical minerals trade in dollars could destabilize gold's trajectory toward $7,000/oz predictions. SEBI-registered expert Anuj Gupta notes the BRICS gold reserves remain intact, but price forecasts are undergoing sharp revisions as tariff-driven central bank demand shows vulnerability to geopolitical shifts.
