BRICS Gold-Backed Currency Could Spark $4,500 Gold Rally—Jim O’Neill Drops Bombshell Prediction

Gold’s about to get a geopolitical turbocharge. The BRICS bloc’s rumored gold-pegged currency could send prices soaring to $4,500—and former Goldman Sachs chief Jim O’Neill just threw gasoline on the fire.

Why Wall Street’s sweating:

A hard-asset alternative to the dollar? Central bankers didn’t see this plot twist coming. While Bitcoin maximalists cheer ‘told-you-so’ from their Lambos, gold bugs are quietly stacking bullion like doomsday preppers.

The cynical take:

Another ‘currency revolution’ that’ll probably get bogged down in BRICS bureaucracy—but hey, at least the gold pumps will make for great CNBC drama. Place your bets: physical metal or mining stocks? (Spoiler: the house always wins.)

Gold Price Forecast Shows BRICS Gold Reserves and Russia Gold Moves

CIBC Projects $4,500 as BRICS Gold Currency Debate Intensifies

CIBC Capital Markets analyst Anita Soni has set a gold price forecast of $4,500 per ounce for both 2026 and 2027. Gold futures crossed $4,000 earlier this month for the first time, climbing about 50% year-to-date.

Soni stated:

Goldman Sachs raised its December 2026 gold price forecast to $4,900 per ounce. Analysts stated:

Jim O’Neill Flags Bubble Risks in BRICS Gold Currency Rally

The BRICS gold currency debate has been shaped by Jim O’Neill’s mixed assessment. The former Goldman Sachs Asset Management chairman sees potential bubble characteristics right now.

O’Neill stated:

Russia Gold Reserves and BRICS Gold Reserves Drive Diversification

Russia gold reserves reached approximately 2,326.5 tonnes as of October 2025, valued at over $302 billion. Gold constitutes around 35.4% of Russia’s international reserves. BRICS gold reserves accumulation by China, Russia, and other members supports establishing an alternative to the dollar-based system.

O’Neill acknowledged the BRICS gold currency strategic rationale, noting the decision by major holders to increase gold allocation aligns with their goal of establishing an international monetary system offering an alternative to the current dollar-based structure.

On future direction, O’Neill stated: