The central banks of BRICS countries have cumulatively purchased 663 metric tonnes of gold in the first nine months of 2025, reported the World Gold Council. The overall worth of the purchase is close to $91 billion, and they purchased the metal even when the prices reached their peak.
Reports suggest that BRICS plans to back their upcoming currency with gold to protect themselves from volatility. The precious metal is seen as a hedge against inflation and other market conditions. It is mostly considered a safe asset as the demand for the glittery metal rarely dips.
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BRICS Heavily Buys Gold, Diversifies Their Central Bank Reserves
The US Dollar was the prime currency in the central banks of BRICS countries, but is now being diversified with gold. The relentless purchasing from the alliance made prices hit new highs and touched $4,339 on Friday.
In total, the BRICS bloc holds 6,026 tonnes of gold as of Q3, 2025. However, they are still behind the US, which holds 8,133 tonnes of the precious metal. Coming to individual countries, Germany holds 3,352 tonnes while Italy has 2,452 tonnes.
Coming to BRICS countries, Russia tops the list with 2,336 tonnes, followed by China at 2,298 tonnes. India lags as it holds 880 tonnes, and Brazil’s recent purchase brings the number to 145.1 tonnes. The development indicates that the US is the clear winner when it comes to owning the metal. The US gets an upper hand here as the accumulation is more than that of the alliance.
BRICS has been steadily buying gold since 2022, and the momentum kick-started after the White House imposed sanctions on Russia for invading and waging war against its neighboring country, Ukraine. Geopolitics turned upside down after the sanctions, as developing countries banded together as one. The de-dollarization agenda gained steam thereafter, threatening the prospects of the US dollar.
