UAE sprints to the top gold: BRICS pushes forward new trade axis!

UAE sprints to the top gold: BRICS pushes forward new trade axis!

The United Arab Emirates (UAE) is pulling out all the stops and catapulting itself to become the second largest gold trading center in the world! As the BRICS bloc, made up of Brazil, Russia, India, China and South Africa, ramps up its efforts to de-dollarize, the emirate is seizing the opportunity to make a name for itself as an alternative to traditional gold hubs like London. How watcher.guru reports, the UAE plans to further expand its position as a global gold giant and storm to the top of the international gold trading hubs.

A record year for gold: Smart as a fox, the UAE relied on the tailwind of record-breaking gold prices and spending-hungry central banks! On October 30, gold prices shot up to an incredible $2,789, boosted by massive central bank demand, according to DMCC CEO Ahmed Bin Sulayem. At the same time, things are simmering behind the scenes: with the BRICS bloc, which could perhaps make a surprising shift away from the US dollar separation, 2025 remains exciting. All eyes are on the bloc's next move and whether a new gold-backed currency may be making a comeback.