The BRICS economic bloc has surpassed a major milestone by accumulating over 6,000 tonnes of gold, representing 17.4% of total global central bank holdings. This aggressive acquisition, led by Russia and China, coincides with a historic third consecutive year of central banks buying over 1,000 tonnes. The move is a direct response to de-dollarization trends and a strategic shift in the global monetary system.
BRICS nations now hold over 6,000 tonnes of gold, increasing their share of global central bank reserves from 11.2% in 2019 to 17.4% today. Central banks worldwide purchased 1,045 tonnes in 2024, marking the third straight year of purchases exceeding 1,000 tonnes.
Russia and China dominate the bloc’s reserves, holding approximately 74% of the total between them. In the first nine months of 2025 alone, BRICS acquired 663 metric tonnes worth around $91 billion, according to the World Gold Council.
The dollar’s share of global foreign exchange reserves fell sharply after Washington froze $300 billion in Russian assets in 2022. Economist Andrés Arauz stated that this weaponization of the banking system has “definitely stirred things up and made countries reflect about the reliance on this previously thought of neutral system.”
Saudi Arabia now settles about 12% of its oil trades in yuan, directly challenging the petrodollar. In November 2025, BRICS launched “The Unit,” a digital settlement instrument for cross-border trade pegged 40% to gold and 60% to BRICS currencies.
A World Gold Council survey found 73% of central bankers expect the dollar’s reserve share to fall in the next five years. BRICS has doubled its gold’s share of total holdings from 6.4% to 12.9% between 2020 and Q3 2025.
