- Central banks purchased 166 tonnes of Gold in Q2 2025, a 41% increase over typical levels.
- BRICS countries are rapidly reducing their U.S. dollar holdings as they move toward financial independence.
- Momentum is building for a BRICS common currency, with a target launch timeline in 2026.
- Mining companies in BRICS nations are benefiting from favorable exchange rates and increased gold demand.
- BRICS-10 now accounts for 46% of the global population and 37% of world GDP, strengthening its geopolitical influence.
In the second quarter of 2025, central banks accelerated gold purchases, acquiring 166 tonnes—an increase of 41% compared to usual volumes. This activity reflects a broader push by BRICS nations to diversify away from U.S. dollar reserves and seek greater monetary independence.
According to the World Gold Council, institutional demand for gold from these central banks stayed persistent across multiple economic cycles. China, Turkey, India, and Russia led this buying trend, helping central banks reach a collective total of over 36,000 tonnes of gold. Jeff Quartermaine, CEO of Perseus Mining, commented, “Gold isn’t just a hedge, it’s insurance against the fragility of the global monetary system.”
BRICS de-dollarization efforts have led to technological developments in digital payment systems and local currency settlements between member countries. Following their 17th Summit in Brazil in July 2025, BRICS nations advanced plans for a joint currency, with 2026 set as a possible launch year. The bloc’s expansion, known as BRICS-10, now covers 46% of the world’s population and 37% of global GDP, giving it significant leverage to develop alternative financial networks outside of traditional systems like SWIFT.
Mining operations in BRICS countries are also experiencing benefits. Companies with revenues in U.S. dollars and local cost structures have improved profit margins due to shifts in currency values. Mike Hodgson, CEO of Serabi Gold, said, “We’re enjoying a very preferable exchange rate, which is very much in our favor.” He added, “We can do everything out of cash flow, without the need to dilute shareholders.” Perseus Mining reported better-than-expected production, with Quartermaine confirming, “We guided the market production to 469,000 to 505,000 ounces finishing at 496,000. We were anticipating an increase in costs and communicated that to the market. In fact, what we have done is performed better than what we had anticipated.”
The growth of the BRICS bloc and the ongoing shift from U.S. dollar reserves to gold and other systems mark an important transformation in global finance. As questions continue about the exact timing and structure for the BRICS currency, the group’s trajectory points to more independent financial operations among emerging economies.
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