- BRICS member countries hold over 6,000 tonnes of Gold, about 20% of global central bank reserves.
- Russia and China control roughly 74% of BRICS gold reserves with strategic initiatives.
- Central banks have purchased over 1,000 tonnes of gold annually from 2022 to 2024.
- JP Morgan projects gold prices reaching $6,000 per ounce by 2028 amid changing monetary policies.
- BRICS are enhancing industrial cooperation and training programs to support economic development alongside gold reserve growth.
BRICS nations have collectively amassed more than 6,000 tonnes of gold in reserves, representing about 20% of the gold held by central banks worldwide. Among these, Russia holds 2,336 tonnes and China 2,298 tonnes, jointly controlling approximately 74% of the bloc’s total reserves through key strategic programs.
The trend of accumulating gold accelerated from 2022 to 2024, with central banks globally adding over 1,000 tonnes annually, as documented by the World Gold Council. This marks the longest continuous period of sustained gold purchases in modern history.
The World Gold Council’s 2025 survey indicates a shift in central bank strategies, with 73% anticipating a decrease in the dollar’s share of global reserves over the next five years. Concurrently, 43% of central bankers plan to increase gold holdings via targeted acquisition programs. According to Professor Adrian Saville from the Gordon Institute of Business Science, “It’s not that gold is worth more; it’s that the dollar is worth less.”
Financial institutions have noted these developments. JP Morgan forecasts that gold may reach $6,000 per ounce by 2028, with an average price of $5,055 expected in the fourth quarter of 2026. Natasha Kaneva, Head of Global Commodities Strategy at JP Morgan, has stated, “Gold remains our conviction long for the year. We see upside as the market enters the Fed rate-cutting cycle.”
The prospect of gold-backed currencies is gaining attention in the BRICS context. Sergey Lavrov, Russia’s Foreign Minister, clarified, “No one in the BRICS community is raising the issue of replacing the dollar. The alternative is to switch to settlements in national currencies.”
Beyond finance, BRICS are advancing industrial cooperation. The 6th BRICS Forum on Partnership on New Industrial Revolution, held in Xiamen, brought together delegates from 34 countries. The event announced the launch of the BRICS Industrial Capacity Cooperation China Center via several institutional agreements.
According to UNIDO Director General Gerd Müller, “The BRICS Centre for Industrial Competencies that we have launched today is a great new platform to unite the BRICS countries’ national efforts and centres into a larger multilateral network.”
Training initiatives, such as the 2025 BRICS PartNIR Training Program on Green Industrial Development and Digitalization, involve participants from 22 countries. These programs aim to close skills gaps and enhance competitiveness across emerging markets while complementing the broader economic transition within the BRICS framework.
Overall, BRICS countries continue to grow gold reserves and promote industrial development through coordinated programs. These actions support a gradual move away from dollar dominance, building parallel financial infrastructure and economic cooperation independent of Western-led systems.
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