BRICS Countries: Russia and China lead the way in gold purchases. In 2024, China produced 380 tons of gold, while Russia produced 340 tons. In September 2025, Brazil purchased 16 tons of gold.
BRICS alone has half of the world's gold. Will this increase Trump's tension?
BRICS Countries: BRICS is a group of several countries, including Brazil, Russia, India, China, and South Africa. Recently, Egypt, Ethiopia, the United Arab Emirates, Indonesia, and Iran also joined the BRICS group. It was formed as a group of the world's fastest-growing economies to promote trade and political cooperation among them. These countries are now seeking to reduce their dependence on the US dollar and are focusing on rapidly increasing their gold reserves.
The situation is such that today, the BRICS countries hold approximately 20 percent of the world's total gold reserves. Meanwhile, some countries, while not members of the BRICS, have strong ties with the BRICS. Together, they hold 50 percent of the world's total gold reserves.
BRICS countries are increasing gold purchases
Russia and China lead the way in gold purchases. In 2024, China produced 380 tons of gold, while Russia produced 340 tons. Similarly, in September 2025, Brazil purchased 16 tons of gold, its first purchase since 2021.
Speaking on this, Anuj Gupta, Director of Ya Wealth, said, "BRICS member countries are producing more and more gold and selling less. Additionally, they are buying gold from the international market. According to current data, between 2020 and 2024, the central banks of BRICS countries will purchase more than 50 percent of the world's gold, information that US President Donald Trump may not like to hear.
What is the dual strategy of BRICS?
Explaining this dual strategy of BRICS on gold, Sachin Jasuja, Equity Head and Founding Partner, Centricity Wealthtech, said, “The increasing control of gold reserves and gold purchases by BRICS countries is emerging as a significant indicator of tension in the US dollar-dominated global financial system. While the US dollar remains the world's primary reserve currency, recent developments suggest that its unrivalled supremacy is being challenged gradually rather than suddenly.”
Today, the economies of the BRICS countries account for approximately 30 percent of global trade. Consequently, their monetary decisions also impact the world. These countries have long had a single goal: reducing their dependence on the US dollar. In fact, the BRICS countries want to end the dollar's dominance and strengthen new currencies within their spheres of influence. However, Trump has issued a stern warning to the BRICS countries against finding alternatives to the dollar.
