BRICS nations and their aligned partners are moving decisively to reduce reliance on the US dollar and Western financial systems, turning instead to gold as a strategic anchor. This shift is no longer theoretical. It is already influencing global markets, central bank behavior, cross-border payments and even the fast-growing world of tokenized digital assets.
Together, BRICS and aligned countries now control close to half of global gold production. China alone produced around 380 tonnes of gold in 2024, while Russia added roughly 340 tonnes. These two countries sit at the center of a broader network that includes Brazil, South Africa, Kazakhstan, Iran, Uzbekistan and others, giving the bloc significant influence over physical supply.
Central bank behavior reinforces this trend. According to the World Gold Council, global central banks bought more than 1,000 tonnes of gold each year from 2022 through 2024, marking the longest continuous buying streak in modern history. Over half of those purchases came from BRICS and aligned nations. Collectively, BRICS official gold reserves now exceed 6,000 tonnes, with Russia holding about 2,336 tonnes, China 2,298 tonnes and India 880 tonnes. Even countries that had paused buying are returning to the market, as seen when Brazil added 16 tonnes in September 2025, its first purchase since 2021.
At the same time, gold prices have pushed into record territory, surpassing $4,000 per ounce at the time of writing, highlighting how sustained official demand is tightening supply and reshaping price dynamics.
Why BRICS Is Turning to Gold
Gold is being used by BRICS not just as a reserve asset, but as a tool of financial strategy. The core objective is to reduce exposure to dollar-denominated assets and to limit vulnerability to sanctions, payment restrictions and political pressure. Since Western sanctions on Russia in 2022, the pace of change has accelerated sharply.
Russia and China now settle most of their bilateral trade in rubles and yuan, while regional trade within the Eurasian Economic Union is increasingly conducted in local currencies. By backing these shifts with physical gold reserves and domestic production, BRICS countries are strengthening trust in their own financial systems without relying on Western intermediaries.
Market voices are paying close attention. Mining investor Frank Giustra has warned that physical gold ownership matters more than ever, arguing that paper claims may fail in a systemic crisis. Russian economist Yevgeny Biryukov has described gold as a shield against sanctions and an asset with centuries of global recognition, particularly valuable when traditional financial partners are seen as unreliable.
What This Means for Markets and Crypto
Beyond reserve accumulation, BRICS is actively building new monetary and market infrastructure. One pilot project, known as the “Unit,” blends 40% physical gold with 60% BRICS national currencies. The prototype launch included 100 Units, each pegged to one gram of gold. The bloc is also discussing a shared gold pool and coordinating infrastructure across Russia, China, the UAE and South Africa to support settlement and storage.
Another major initiative is the proposed “BRICS Gold Price” benchmark. If implemented, it would provide an alternative to dollar-centric pricing systems and further shift influence away from traditional Western hubs.
For global markets, these developments support higher gold prices by tightening physical supply and reinforcing long-term demand from official buyers. For the crypto and digital asset space, the implications could be significant. Growing interest in gold as a neutral reserve asset may boost demand for tokenized gold, gold-backed stablecoins and on-chain representations of real-world reserves, especially for cross-border payments outside the dollar system.
Bottom line: BRICS is combining production power, central bank accumulation and new financial infrastructure to pursue a long-term strategy of de-dollarization. Whether this leads to a fundamental shift in the global monetary order or a hybrid system where gold and digital assets play a larger role, it is a transformation that markets, policymakers and crypto innovators can no longer ignore.
