BRICS Nations' Gold Rush: Safeguarding Economies Against US Recession Fears In a strategic move to fortify their economies, the BRICS countries – led by China, Russia, and India – have significantly ramped up their gold reserves, becoming the top gold buyers in 2023. According to the World Gold Council, China alone added a staggering 225 tonnes of gold to its reserves last year. This trend is not just a fleeting one; early 2024 data indicates that these nations are continuing their aggressive gold acquisition. Analysts suggest this gold buying spree is a defensive measure against potential economic repercussions from a looming recession in the US and the forthcoming presidential elections. By increasing their gold reserves, BRICS nations aim to shield their economies from the volatility of the US dollar, with gold serving as a vital hedge against market crashes and inflation. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts S&P 500 Breaks 5,000 Mark Amid Anticipation for Key Inflation Data READ MORE The Latest Inflation Breakdown READ MORE Asia gold: Dealers grapple as sky-high rates erode demand in key hubs READ MORE Remote Work Could Cost Boston $1 Billion in Taxes READ MORE Dollar Heads for Best Run in a Year as Fed Seen Delaying Cuts READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment