BRICS gold reserves have crossed a major milestone, with the bloc now holding over 6,000 tonnes — also representing 17.4% of total global central bank gold, up from just 11.2% in 2019. Central banks collectively catalyzed a historic buying trend, purchasing 1,045 tonnes in 2024 and surpassing the 1,000-tonne mark for the third consecutive year. As petrodollar decline accelerates right now and de-dollarization trends reshape international finance, BRICS gold accumulation has spearheaded one of the most consequential monetary shifts in decades.
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How BRICS Gold Reserves, Petrodollar Decline, and De-Dollarization Affect Global Finance
Russia and China Lead the Charge
Russia holds 2,335.85 tonnes at the time of writing, and China also sits close behind at 2,298.53 tonnes, with India at 879.98 tonnes. Together, across several key reserve categories, Russia and China account for roughly 74% of total BRICS gold reserves. In the first nine months of 2025 alone, the group leveraged an aggressive buying strategy to acquire 663 metric tonnes — worth around $91 billion, according to the World Gold Council.
“Gold’s performance during times of crisis, portfolio diversification and inflation hedging are some key themes driving plans to accumulate more gold over the coming year.”
Gold accumulation by BRICS central banks has also tightened supply across various major market segments. The bloc additionally controls roughly 50% of global gold production right now, engineered through decades of strategic resource positioning.
The Dollar System Cracks Under Pressure
The dollar held 57.8% of global foreign exchange reserves in Q4 2024, and Q2 2025 data registered a further sharp drop. Washington’s decision to freeze $300 billion in Russian central bank assets in 2022 accelerated global reserve diversification across multiple essential financial sectors — giving dozens of countries a very practical reason to start building alternatives.
Andrés Arauz stated:
“Perhaps the most serious element that has accelerated this diversification has been the weaponisation of the hegemonic banking system. [Through] sanctions, through asset freezes, through confiscation of international reserves in many countries… [these] have definitely stirred things up and made countries reflect about the reliance on this previously thought of neutral system that is now a threat to their national sovereignty and economic policies.”
Russian President Vladimir Putin also argued publicly at the October 2024 BRICS summit that the U.S. has “weaponized” the dollar. Saudi Arabia now pioneers yuan-based settlements for around 12% of its oil trades, directly challenging the petrodollar system that has anchored dollar demand in energy markets since the 1970s.
A New Settlement System Takes Shape
On November 10, 2025, BRICS launched “The Unit” — also a digital settlement instrument pegged 40% to gold and 60% to BRICS currencies, instituted specifically for cross-border trade. The World Gold Council’s 2025 survey found that 73% of global central bankers expect the dollar’s share of global reserves to fall over the next five years — which right now reflects a broad institutional consensus around de-dollarization trends. Canadian mining financier Frank Giustra stated at the Precious Metals Summit in Beaver Creek:
“We’re now, believe it or not, in the era of hard money. If you own paper gold, you do not own gold. When the crunch comes, it will not be there.”
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BRICS gold reserves also doubled their share of total holdings — from 6.4% to 12.9% — between 2020 and Q3 2025, maximizing the bloc’s leverage in any future global reserve diversification discussions. That kind of sustained gold accumulation signals a structural commitment, and at the time of writing, the pace shows no sign of slowing.