BRICS Ditches Dollar for Gold, Bloc Now Controls 50% of Global Supply
BRICS nations are accelerating their shift away from the U.S. dollar, with Gold emerging as the preferred reserve asset. The alliance, alongside aligned countries, now commands roughly half of global gold production. China and Russia lead this strategic pivot, producing 380 and 340 metric tons respectively in 2024 while systematically reducing dollar exposure.
Central bank gold purchases have surged to over 1,000 tons annually since 2022—the longest sustained accumulation streak in modern history. This reallocation reflects a broader monetary policy transformation, with BRICS members accounting for more than 50% of central bank gold demand between 2020-2024. The power shift from Western financial centers to Eurasian vaults is now visibly reshaping commodity markets.
