On Wednesday, the US Dollar faced challenges amid scrutiny of the US Federal Reserve’s policy decisions and Chairman Jerome Powell’s comments. By Coingape Staff 3 hours ago Updated 3 hours ago
Increasing inflation in the United States has led the U.S. Dollar Index (DXY) to struggle more globally. However, the coming months can prove to be more tussling for the dollar as BRICS nations are planning to “de Dollarize” the global economy. Rich Dad Poor Dad author expects that this move might leave the Gold price rallying to the moon.
US Dollar To Struggle Ahead?
Robert Kiyosaki in an X (earlier Twitter) post stated that around 41 nations might attend a meeting on August 22, 2023, in South Africa to gang up against the US Dollar. He highlighted the word “Gang Warfare”.
He expects that the BRICS (Brazil, Russia, India, China, and South Africa) and other nations will team up to launch the “BRIC” currency. The BRIC currency will be backed by gold. Kiyosaki added that 1 BRIC will stand equal to 1 ounce of gold, this will lead the gold price to somehow reach $3000. Gold Spot is trading at an average price of $1972, at the press time.
On Wednesday, the US Dollar faced challenges amid scrutiny of the US Federal Reserve’s policy decisions and Chairman Jerome Powell’s comments on the policy outlook. The USD index, which measures the dollar against six major currencies, is set to finish the day significantly lower, nearing 101.00.
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According to reports, over 40 nations have already expressed their interest in joining the BRICS group. This comes after an update confirming that Russia’s Vladamir Putin will not be attending the BRICS summit scheduled to take place from 22 to 24 August.
A senior BRICS diplomat reportedly stated that the BRICS currency is not on the agenda. However, the group of nations will continue to move away from the US dollar.
