BRICS Gold Currency Debate Intensifies as Analysts Project $4,500 Rally

Jim O’Neill’s analysis of BRICS gold currency reveals a split market, with gold trading NEAR $4,000 per ounce. The economist, who coined the BRICS acronym, warns of bubble risks from retail FOMO while acknowledging central banks’ strategic diversification into gold. CIBC forecasts gold prices to reach $4,500 by 2026-2027, driven by BRICS’ growing reserves and Russia’s 2,326-tonne stockpile—signaling a long-term shift away from dollar dominance.

CIBC Capital Markets analyst Anita Soni projects Gold will hit $4,500 in 2026-2027, following a 50% year-to-date surge that pushed futures above $4,000. Goldman Sachs is even more bullish, revising its December 2026 target to $4,900. O’Neill cautions that the rally may exhibit bubble characteristics, though structural demand from central banks and BRICS nations lends credibility to the uptrend.

Russia’s gold reserves now stand at 2,326.5 tonnes, valued at over $302 billion as of October 2025. This accumulation, alongside BRICS-wide reserve growth, underscores a deliberate MOVE toward alternative monetary systems. The gold debate reflects broader tensions in global finance—where institutional hedging meets speculative fervor.