- BRICS countries are increasingly using Gold-backed trade systems, moving away from the US dollar.
- China recently discovered a large gold deposit in Gansu Province, adding over 40 tonnes to its reserves.
- China’s official gold reserves are now about 2,280 tonnes, ranking sixth worldwide in 2025.
- Major central banks are cutting US Treasury holdings while increasing gold reserves.
- Physical gold’s lack of counterparty risk and sanctions exposure is driving its use in new financial systems.
BRICS countries are accelerating their transition to gold-backed financial systems, highlighted by China’s recent discovery of a major gold deposit in Gansu Province. This move aims to reduce dependence on the US dollar amid changing global trade dynamics.
The newly found gold in Yumen City, Gansu Province, totals more than 40 tonnes, equivalent to two large gold mines, according to official reports. The China Geological Survey also announced an additional 168 tonnes of gold from discoveries in Inner Mongolia and Heilongjiang provinces. The Gansu Provincial Department of Natural Resources said, “The discovery provides valuable practical experience for future gold exploration in similar areas, such as the Gansu resilient shear zones.”
Currently, the United States leads global gold reserves with about 8,133 tonnes, followed by Germany at 3,351 tonnes, Italy at 2,451 tonnes, and France at 2,452 tonnes. Russia holds approximately 2,333 tonnes, and China sits sixth with around 2,280 tonnes. Other countries include Switzerland (1,040 tonnes), India (880 tonnes), Japan (847 tonnes), and the Netherlands (612 tonnes).
BRICS countries like China, Russia, Brazil, and Saudi Arabia have developed trade settlement systems based on local currencies and physical gold, reducing reliance on the US dollar. This strategy aims to minimize counterparty risk and avoid sanctions. Central banks have increased gold purchases to record levels while lowering US Treasury holdings. Gold’s role as a secure, non-political asset supports this shift and challenges the long-standing dollar-based financial order.
China’s control over rare earth elements—critical for defense and technology sectors—adds complexity to Western responses to this gold-driven transformation. The move away from fiat currency towards tangible assets reflects growing concerns over wealth inequality and trust in financial systems. The increasing use of gold as monetary infrastructure signals ongoing change in global economic power and trade systems leading up to 2025.
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