The bloc-comprising Brazil, Russia, India, China, and South Africa-has rapidly expanded gold holdings in recent years. While BRICS nations officially account for about 20% of global reserves, their combined holdings with allied countries reach an estimated half of the world's gold. The bloc also produces around 50% of global gold output, giving it growing influence over future supply.
China led production last year with 380 metric tons, followed by Russia with 340 tons. Brazil, after a hiatus since 2021, bought 16 tons of gold in September. Analysts say the dual strategy of boosting production while purchasing internationally signals both risk management and a long-term recalibration of global financial power.
"Control over gold is a clear signal that BRICS economies are hedging against the dominance of the dollar," said Sachin Jasuja, co-founder of India's Centricity WealthTech. "This is a gradual reassessment of dollar supremacy, not an abrupt challenge."
Intra-BRICS trade is increasingly settled in local currencies, with roughly one-third of transactions now bypassing the dollar, and bilateral agreements such as India-Russia and China-Brazil reflect this shift. Combined, these moves indicate that BRICS and its partners are steadily reshaping the global reserve landscape while cementing gold's role as a cornerstone of financial security.
NOURNEWS