Housekeeping: Good Morning.

“Comex is dying”

Topic:

* Brics 2025 Summit Democratizes Gold Ownership

Market Analysis:

China is accelerating efforts to internationalize the yuan using gold as trusted collateral in global trade. The July BRICS Summit will highlight a shift from rhetoric to infrastructure, featuring a decentralized network of gold vaults built outside China and controlled locally. This structure allows trade partners to settle in yuan while holding gold as a neutral, stable asset—functionally replacing U.S. dollar reliance in key payment chains.

Oil exporters and emerging economies stand to benefit. We’ve catalogued these developments partly in collaboration with Bai Xiaojun and Eric Yeung.

Our full BRICS Summit series—previously premium—is now unlocked for free subscribers. and continues in The Complete Brics 2025 Summit Analysis emailedthis morning

Related Posts:

Data on Deck: Powell and PCE

* MONDAY, JUNE 23 10:00 am Existing home sales

* TUESDAY, JUNE 24 10:00 am Fed Chair Powell testifies to House

* WEDNESDAY, JUNE 25 10:00 am New home sales

* THURSDAY, JUNE 26 10:00 am Pending home sales

* FRIDAY, JUNE 27 8:30 am PCE index

* Full calendar

Charts and Final Market Check

Platinum, Gold, Silver

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