Gold eased, pressured by a rising US dollar after President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency.

President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face 100% tariffs during his administration.

Donald Trump warned of 100% tariffs on BRICS nations — composed of Brazil, Russia, India, China and South Africa — should they develop a new currency to compete with the U.S. dollar. “The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is over,

President-elect Donald Trump on Saturday warned the BRICS nations they will face a 100% tariff in U.S. domestic markets if they proceed with plans to create a new currency to compete with the dollar.

While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.

"They can go find another "sucker!" There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America," Trump wrote.

Officials, including Russian President Vladimir Putin, Chinese President Xi Jinping and Egyptian President Abdel Fattah al-Sisi, are seen through television cameras during a plenary session in the outreach/BRICS Plus format at the BRICS summit in Kazan,

Donald Trump continues to threaten tariffs against foreign nations, this time toward a bloc of nine countries if they try to undermine the dollar's global dominance.

The US can't reduce its trade deficit and increase the global dominance of the dollar at the same time, said an economist.