AuAltinavcisiPrecious metals news and analysis

Metals markets

Brazil Scraps BRICS Currency Plan, Seeks Dollar Alternatives

Brazil Scraps BRICS Currency Plan, Seeks Dollar Alternatives

Brazil has confirmed it won’t pursue a common BRICS currency during its 2024 presidency, despite previous discussions.

Instead, the country is focusing on practical solutions to facilitate trade between BRICS nations using local currencies, while facing strong opposition from the U.S., including threats of 100% tariffs from President Trump.

The expanding BRICS alliance, which recently added six new members including Saudi Arabia and Iran, continues to seek practical alternatives for international trade while maintaining that these efforts aren’t directed against any particular nation.

Eight more from the desk

Other dispatches from the bullion wire.

Barclays’ Market Euphoria Indicator Hits Bubble Territory as Speculation SoarsMetals marketsBarclays’ Market Euphoria Indicator Hits Bubble Territory as Speculation Soars
Trump Promises New Electronics Duties Within MonthsMetals marketsTrump Promises New Electronics Duties Within Months
The Three Questions to Ask Before Buying Any Asset in 2026Metals marketsAsk Alan: The Three Questions to Ask Before Buying Any Asset in 2026
GDP Delays and Retail Weakness Raise Red FlagsMetals marketsGDP Delays and Retail Weakness Raise Red Flags
BOE Cuts Rates as UK Faces Stagflation StormMetals marketsBOE Cuts Rates as UK Faces Stagflation Storm
Countdown to Tariffs: August 1 Deadline Looms for U.S. Trade PartnersMetals marketsCountdown to Tariffs: August 1 Deadline Looms for U.S. Trade Partners
Bessent Dismisses CEO Recession Fears: ‘Focus on Main Street, Not Wall Street’Metals marketsBessent Dismisses CEO Recession Fears: ‘Focus on Main Street, Not Wall Street’
Dollar Jumps to 2-Month High as Powell Stalls Rate-Cut BetsMetals marketsDollar Jumps to 2-Month High as Powell Stalls Rate-Cut Bets