![](https://images.ecency.com/DQmUntgpfQ2XChcE7MvweXeTzFwZVnnv3Yfjsh6iKtr7RjC/image.png)
[source](https://www.bu.edu/pardeeschool/2021/09/27/miller-comments-on-brics-and-impact-of-international-institutions/)

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Gold is still unstoppable for a couple of months since I posted about the [central bank's buying too much gold](https://hive.blog/hive-167922/@tanzil2024/what-is-the-indication-of) since 1967 last month when the gold price was around $1793/OZ but now the price has increased almost $100/OZ which is really a big jump for [Gold](https://leofinance.io/@leoglossary/leoglossary-gold)! Currently, Gold is being traded at $1773/OZ. Even 7 days ago, I have another post with the Gold rally that shows the price was around the $1843/OZ range! Now the question is where it will stop and the Price is just unstoppable? One of the reasons behind the bullishness of the gold price is the increasing [fed funds rate](https://leofinance.io/@leoglossary/leoglossary-fed-funds-rate) and the concern about the upcoming [recession](https://leofinance.io/@leoglossary/leoglossary-recession) is still affecting the economy. And as a result, investors are finding the best place for the safety of their funds and [Gold](https://leofinance.io/@leoglossary/leoglossary-gold) is a great option without any doubt. Gold has proved itself to be one of the most attractive [assets](https://leofinance.io/@leoglossary/leoglossary-asset) with abundant liquidity options throughout the world with a long history of successful asset category! It is the core reason that always drives Gold to store value but currently, the price is increasing so fast due to the increasing demand, and the potentially liable entity behind this can be the BRICS and their [NEW DEVELOPMENT BANK](https://www.ndb.int/) formerly known as the BRICS's bank!

![](https://images.ecency.com/DQmUkT7RkfzeWkyBML1oHUCRFbJQF8kaDGUN95fgbk2odF6/image.png)
[source](https://www.tradingview.com/chart/02DIiBxx/?symbol=TVC%3AGOLD)

The common phenomena of economic incidents is depending on supply and demand. As a limited and stable metal, [Gold](https://leofinance.io/@leoglossary/leoglossary-gold) is being used as a storage value from the very early history of human beings when they started doing business with other nations and countries. And still now Gold has a strong legacy in the storage of values. 

But it is to be considered that the post-Covid-19 pandemic has made a difficult time for the purchase of Gold by the common people but meanwhile the central banks have accumulated a lot. By a [report by Financial time](https://www.ft.com/content/e0983ebb-bbe0-4d33-8517-e19fa06e1a77) the record of 55 years of gold buying has been broken and in the third quarter of 2022, 400 tons were bought which is a really big number. Besides BRICS countries many other countries of the eastern world are also buying Gold for the last couple of years which can be seen in the following chart.

![](https://images.ecency.com/DQmWiokQvXVjXtG6GHQp6XWRUs1Gp25YW5qtaDxktNwK24x/image.png)
[source](https://www.brinknews.com/quick-take/central-banks-buy-gold-in-record-amounts/)

According to Bloomberg China Central Bank has added 32 tons of Gold which makes it to the 6th by holding a sum of 1,980 tons. Also, some potential buyers are supposed to be Russia as they are under great pressure with the USD and trying hard to get rid of it.  Also, many countries are against the USD hegemony as their reserve is at risk. And thus the idea of the new parallel banking system is implementation has emerged as the NDB.

![](https://images.ecency.com/DQmbDDoMqXw7cFguREgq8nFBCYDtSv5mDjEGfyJTEm44LVZ/image.png)
[source](https://www.bloomberg.com/news/articles/2022-12-07/china-announces-jump-in-gold-reserves-after-more-than-3-years)

Though the dollar-pegged oil has given an enormous benefit to USD many oil-producing countries are getting out of it which is good for the new system. Also, cryptocurrencies are emerging everywhere to provide 100% authority to the asset owner! But the price of [Oil](https://leofinance.io/@leoglossary/leoglossary-oil) and [BTC](https://leofinance.io/@leoglossary/leoglossary-btc) has shown a great winter in their movement and even now after the post-Covid-recovery period, the Price of the assets such as stocks and Oil is in the downtrend. And unlimited FUDs are making digital assets die very fast. So, the single hegemony of the dollar is being attacked from every possible side. Even many countries are trying to dispute their business in their own currency which is going to increase in the coming world for their own safety and concerns.
# The emergence of NEW DEVELOPMENT BANK
[Bank] (https://ecency.com/post/@leoglossary/leoglossary-bank) is the most important [financial institution](https://ecency.com/post/@leoglossary/leoglossary-financial-institution) in the economy that controls all the economic transaction within borders and outside of the borders of a country. Though the NDB has been established by the BRICS states for mutual loans and other facilities to drive their economy faster enough but they have their future plan to make them less impactful from the USD hegemony in the long run. And the purchase of Gold is one sign of the preparation of a sperate world order.

![](https://images.ecency.com/DQmPgGv4xDw77Ktgyvd7DTKCRqE3Q9LLxaFdgLoVtKGxBFP/image.png)
[source](https://en.wikipedia.org/wiki/BRICS#/media/File:NDB-HQ-LOGO.jpg)

It is a debate whether the world order change will happen very soon or later but the leaders will be the eastern world which seems to be legit as they have the largest number of consumers and they have the potential to that level. And so, the developing leaders are trying their own way to protect their economy and grow without too many difficulties with the USD hegemony! And the good sign of their cooperation is that the shareholders of the NDB are equal for all the 5 founding members that no countries are getting sovereignty over the others! Though the money flows will be mostly controlled by Chinese supremacy due to their strong economy there will be definitely a new world on the eastern side by this new financial institution!

![](https://images.ecency.com/DQmRRukxtEvvJy1huS4wdNTccb2AN3XfzVDjscUBZ7UNYB8/image.png)
[source](https://en.wikipedia.org/wiki/New_Development_Bank#/media/File:NDB-Chart-BRICS.png)

What is your thought on buying gold from the Central Banks and the NDB? Let us know in the comments. Thanks a lot for your time and attention in reading my food post. If you have queries regarding the post please feel free to let me know in the comment section. I will catch you at the next.
Have a nice day!

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<b>MD AL MAHADI HASAN</b>
<sub>Welcome to Mahadi's small corner in Hive Community from Bangladesh. He is a Ph.D. student who is working at a research Institute in China. He has visited many destinations near Beijing, climbs up the great wall and mountains, tries new and exotic dishes here, tried skiing and many other events, and explored his country and want to explore the rest of the world in the future. As a crypto enthusiast, he has the hobby to learn about Blockchains, Cryptos, and their fascinating applications in the real world. He loves learning new things and tries to enjoy his life to the full. If you like his content, don't forget to upvote and leave a comment to show some love for him as a learner in the blogging sphere. You can also reblog his post if you want to. Also, don't forget to follow him to be updated with his latest posts about his life and thoughts on a regular basis including daily life and some Blockchain games such as Splinterlands.

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