Whats the future of GOLD if the Petro dollar is replaced buy another form of foreign currency ?

Many countries now use the petro dollar for oil but what if in the future that changes how would that affect the GOLD market ?
your thoughts ?

 

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BRICS would be gold based digital settlement
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You think they would want to price their currency in something without the rule of law or private property rights backing it up ?

Where would the sellers of the oil invest their tens of billions overnight in liquid investments -- Putin and Russia ? The Chinese Communist Party ? Brazil and Lula's Socialist Friends ? South Africa (stop laughing ) ?

The Doom & Gloom nonsense that some write about is largely by folks who have never managed large liquid investment pools. If they had, they'd know you don't recreate the super-liquid U.S. Treasury, MBS, ABS, and Corporate bond trading markets.

Foreign markets are like a Roach Motel....you can check in...but you can never leave.

 

BRICS is an acronym for commodities exporting countries.

Chances of them ever issuing a "currency" -- unified or other -- is about as likely as Mamdani being invited to the RNC in 2028 to address the GOP.

 

BRICS is currently an 11 country bloc with others trying to get in. Not all commodity exporters.
The currency initiative is one goal of the group.

 

None will give up control over their central bank.

Are they willing to have joint banking regulation and supervision...shared fiscal budgets...common/shared debt issuance.....free movement of people in-and-out of the country ?

If not...you can't have a single currency. Just ask the EU.