- BRICS‘ 11-member bloc is coordinating central-bank Gold purchases and gold-backed trade systems to boost control of global reserves to about 65–70% by 2026.
- BRICS central banks bought more than 50% of global gold between 2020 and 2024, and the bloc increased gold’s share of reserves by 102% since 2020.
- China and Russia produced roughly 380 and 340 tonnes in 2024 respectively, while combined BRICS and aligned states now account for about half of global output.
- Collective BRICS holdings exceed 6,000 tonnes, led by Russia (2,336 tonnes), China (2,298 tonnes) and India (880 tonnes).
- Members including Brazil, Egypt, Ethiopia, Iran, UAE, Saudi Arabia and Indonesia are building gold-settlement infrastructure and exploring a gold-backed currency unit.
The BRICS alliance of 11 member states is pushing a 2026 framework to increase its share of global gold reserves through coordinated central-bank buying and gold-backed trade systems. Members across Latin America, Eurasia, Africa and the Persian Gulf have raised gold holdings sharply since 2020 and are building settlement infrastructure to support trade and a possible gold-backed currency unit. The effort aims to reduce reliance on dollar-denominated assets and consolidate reserve control.
Central banks in the BRICS bloc expanded gold’s share of total reserves by 102% since 2020 and accounted for more than 50% of global gold purchases from 2020 to 2024. Anuj Gupta, director at Ya Wealth, said “BRICS member countries are both producing more gold and selling less. At the same time, they are also purchasing gold from the international market. According to existing data, between 2020 and 2024, the Central Banks of the respective BRICS nations purchased more than 50% of the global gold.”
Production power within the bloc is strong: China produced about 380 tonnes of gold in 2024 and Russia about 340 tonnes. Combined output from BRICS and aligned producers such as Kazakhstan, Iran and Uzbekistan now represents roughly 50% of global gold production.
Collective reserve totals have risen above 6,000 tonnes, with leading national holdings at 2,336 tonnes for Russia, 2,298 tonnes for China and 880 tonnes for India. In September 2025, Brazil added 16 tonnes—its first purchase since 2021—bringing its total reserves to 145.1 tonnes and signaling renewed participation in BRICS gold plans.
Speakers and industry participants stress a return to tangible reserve strategies. Frank Giustra said at a metals summit, “We’re now, believe it or not, in the era of hard money. If you own paper gold, you do not own real gold. When the crunch comes, it will not be there.” Expansion to 11 members and continued central-bank acquisition underpin the projection that BRICS could move its effective control of global gold toward 65–70% in the near term.
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