The BRICS nations – Brazil, Russia, India, China, and South Africa – now hold over 20% of the world’s total gold reserves, highlighting the growing economic clout of these emerging powerhouses, according to a new report from the World Gold Council.
As of Q2 2024, the global gold reserves stood at 29,030 tonnes, with BRICS countries collectively holding 6,200 tonnes, or 21.4%. Russia tops the list with 2,340 tonnes, followed closely by China with 2,260 tonnes, together accounting for 74% of the BRICS reserves.
Gold’s reputation as a safe haven amid inflationary pressures and economic volatility continues to drive demand, especially with current global uncertainties pushing gold prices to an all-time high of $2,732.25 per ounce.
