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Cinnamon

Russia & China could set international gold price based on physical gold trading

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This could be a real game changer. No more artificial gold prices? What will Dimon think?

Since Russia, China, India, Brazil & South Africa are all either large producers or consumers of gold, or both, it is highly likely that the BRICS bloc they constitute could focus its cross-border gold trading network on trading physical gold.

Gold pricing benchmarks from such a system would be based on physical gold transactions, which is a departure from the way the international gold price is currently established.

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https://www.rt.com/business/411763-russia-china-set-gold-price/

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