Gold prices have risen substantially in 2024 primarily because of anticipated BRICS currency mechanisms backed 40% by gold, which necessitates much higher gold prices in USD terms before implementation, reflecting market expectation of this policy outcome.
causalpending
Speaker
DoombergEvidence Quote
“I Believe by the way that this is the the most rational explanation for why gold has basically gone straight up this year um because if there's going to be some form of a new neutral Reserve asset used for the settlement of imbalances in international trade that involves gold then the price of gold in US dollars needs to be much higher”
Created: 8/10/2026, 4:34:54 PM
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