BRICS Nations Accelerate Gold Accumulation to Challenge Dollar Dominance

BRICS member states now collectively hold over 6,000 tonnes of Gold reserves, representing 20-21% of global central bank holdings. Russia and China dominate the bloc's holdings with 2,335.85 and 2,298.53 metric tons respectively, while India maintains 879.98 metric tons. Smaller contributors include Brazil (129.65t) and South Africa (125.47t), with Egypt's recent accession adding 128.54 metric tons to the pool.

The strategic accumulation serves as a hedge against currency volatility and supports de-dollarization initiatives. Russia and China alone control 74% of BRICS reserves, ranking fifth and sixth globally in gold holdings. This gold stockpile may underpin plans for a potential gold-backed currency alternative to the dollar in international trade settlements.