Gold Emerges as Key Competitor to US Dollar Amid BRICS Strategy

Morgan Stanley has identified gold as a primary contender against the US dollar, as BRICS nations intensify efforts to lessen their dependence on USD reserves. According to NS3.AI, the bank underscores the substantial rise in gold accumulation by BRICS countries, noting a more than 30% increase over the past five years. This move is part of a broader strategy to diversify away from assets denominated in US dollars. The ongoing trade tensions and evolving global alliances are accelerating the shift towards a multipolar financial system.