BRICS Gold Pact Now Backed by 33 Nations as Russia Spearheads Global Metal Exchange Revolution
Forget the old guard. A new financial axis is forming, and its foundation is solid gold.
The BRICS alliance—once just an acronym—has solidified its most tangible move yet. A gold-backed trading pact, now embraced by 33 countries, is positioning itself as a direct challenge to traditional reserve currencies. Russia isn't just a participant; it's the engine driving the creation of a dedicated metal exchange, aiming to rewrite the rules of commodity trade.
The Mechanics of the Move
This isn't about symbolism. The pact establishes a framework for settling international trade in gold, bypassing the dollar-centric system. The push for a dedicated exchange, led from Moscow, provides the infrastructure—a physical and digital marketplace where member nations can transact directly. It turns a political agreement into a functional, operational reality.
Why Gold, Why Now?
In a world of digital finance and speculative assets, the choice of gold is a deliberate throwback to perceived stability. For nations wary of currency volatility and geopolitical leverage, it's the ultimate hard asset. The expansion to 33 members signals a critical mass, moving the concept from a bloc experiment to a viable, parallel system. It’s a hedge against the existing order, plain and simple.
The Ripple Effect
The implications stretch far beyond bullion vaults. A successful gold-backed trading lane could diminish the dollar's dominance in commodity markets, particularly for energy and raw materials. It offers member states an alternative for freezing—or at least cooling—their exposure to Western financial systems. For the global south, it's a potential path to greater monetary sovereignty, or at least a different set of strings attached.
A new, shiny pillar is being erected in the global financial architecture. Whether it becomes a cornerstone or a niche annex remains to be seen, but the blueprint is now signed by 33 nations. And in finance, sometimes the best way to build the future is to dig up the past. (After all, Wall Street has been selling digital promises for years—maybe it's time for something you can actually drop on your foot.)
BRICS Gold Countries And Russia Gold Boost Gold-Based Settlement System
Russia Gold Exchange Challenges Western Pricing Control
Russia Gold leadership is advancing the BRICS gold pact through a proposed exchange that would establish independent pricing mechanisms. Russian Finance Minister Anton Siluanov stated:
The gold-based settlement system operates through China’s Shanghai Gold Exchange International, which has led the development of its architecture. In 2017, Russia piloted the system by accepting yuan from China for oil with blockchain-verified guarantees that allowed the yuan to be converted into gold.
Russian Foreign Minister Sergey Lavrov clarified:
BRICS De-Dollarization Accelerates Through Physical Assets
The BRICS countries have motivated their de-dollarization strategy by leveraging their collective gold reserves, which total about 6,000 tonnes—roughly 20% of all central bank reserves worldwide. Russia holds the largest portion with 2,335.85 tonnes, followed closely by China with 2,298.53 tonnes. Russian Deputy Finance Minister Aleksey Moiseev clarified that foreign institutions such as SWIFT and the London Metal Exchange have served the interests of the G7 and EU.
The infrastructure includes vaults in Saudi Arabia, Singapore, and Malaysia that enable regional partners to store and pledge gold for credit lines. Russian Deputy Foreign Minister Sergey Ryabkov affirmed that the system will be aimed at achieving operative status by 2030. The structure of the BRICS gold pact focuses on voluntary involvement. It seems that physical gold forms the basis of trust between trading partners.
