According to reports from state-run RT, the Russian government has reportedly confirmed that the BRICS nations, comprising Brazil, Russia, India, China, and South Africa, are planning to introduce a trading currency backed by gold. This development is anticipated to be officially announced during the upcoming BRICS summit scheduled for August in South Africa. The gold market could potentially witness a surge in bullish momentum as the world potentially moves towards a new form of gold standard, as per the information provided.
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