Brazil's Central Bank Boosts Gold Reserves Amid BRICS Strategy

Brazil's Central Bank has divested $61 billion in US Treasury securities, choosing to bolster its gold reserves as part of a broader BRICS initiative aimed at reducing dependence on the US dollar. According to NS3.AI, this decision underscores apprehensions regarding US economic instability and strengthens the alliance's move towards de-dollarization and asset diversification. Gold prices have recently hit record highs, driven by significant purchases from BRICS nations, although a short-term correction ensued after reaching the peak.