Silver Rises Over 120% YTD 
The BRICS economic alliance is showing internal divisions over de-dollarization efforts, with India emerging as a key dissenter. Despite the bloc’s long-standing goal to reduce reliance on the US dollar, India’s foreign minister Subrahmanyam Jaishankar has stated they have “no interest” in replacing the dollar for BRICS trade settlements, calling it a “source of international economic stability.” This fracture within BRICS comes amid increased tensions with the West, particularly as President Trump threatens 150% tariffs.
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Gold Is Up 41% From a Year Ago. The Fed Can’t Stop It
Gold is trading at $4,648/oz — up 41% from a year ago, down 14% from January’s record. Both numbers are true. The one that matters is the 41%. It held through a war, three hawkish Fed holds, and the most fractured FOMC vote since 1992. Here’s why that gap between the record and today’s price is a floor, not a warning.
May 1, 2026
