We have only been days since BRICS decided to establish a precious metal exchange during the 2025 summit. The report is making a round that the Alliance is intended to launch its own index that tracks precious metal exchanges. The move is aimed at trading, moving away from the Western Support Index with a new index formed by the block.
BRICS member Russia first came up with the idea of establishing a new precious metal exchange in October. Russian Finance Minister Anton Silanov was discussing with other members the idea of ensuring fair pricing and trade growth.
If approved, the exchange of precious metals will be an alternative index operated solely by BRICS, although not backed by the West. This development has a major impact on gold and silver prices and places wedges in the broader commodity market.
The newly launched BRICS Precious Metals Exchange, if approved, could reconstruct price discoveries in gold, silver and other products. Chart patterns and trading strategies can experience false updates to make market dynamics appear different in the financial sector.
The mechanism by which BRICS initiates its own metal exchange is boring, but not completely impossible. This mechanism involves a paradigm shift in market scope setting a new benchmark for price measurement. Market participants must be accredited and rigorous audits and clearings for price and value tracking.
If approval has passed, gold, silver and nickel may be under the BRICS metal exchange. The Alliance is rich in these metals, giving you a head start when establishing new indexes. The 17th summit will be held in Rio de Janeiro, Brazil on July 6th and 7th. Vladimir Putin of Russia and Xi Jinping of China will not attend the summit for a variety of reasons.
