Arcadia Economics: Will BRICS Make an Announcement about the Gold-Backed ‘Unit’ at Next Week’s Meeting?

As we approach one week until the highly anticipated BRICS meeting, the global economic landscape is abuzz with speculation and intrigue. With Brazil, Russia, India, China, and South Africa convening, all eyes are on whether this summit will yield tangible outcomes—especially regarding currency innovations that could reshape international trade. A variety of questions have emerged as we draw closer to the meeting. Will there be an official announcement about a new initiative? Could the BRICS group actually roll out a gold-backed payment settlement currency? And perhaps most intriguingly, what impact might this have on gold prices globally? The very idea…