BRICS Countries Control 50% of Global Gold Production: Will the Dollar Lose Its Dominance?

Source: Patrika News | Original Published At: 2025-12-28 13:30:00 UTC

Key Points

• BRICS nations (Brazil, Russia, India, China, South Africa) collectively control ~50% of global gold production through strategic partnerships.
• BRICS central banks purchased over 50% of global gold between 2020-2024 to reduce dollar dependency.
• Russia and China led production with 340 and 380 tons in 2024, while Brazil made its first major gold purchase since 2021.
• Local currency trade between BRICS countries now accounts for one-third of transactions, reducing reliance on the US dollar.
• Post-Russia-Ukraine war sanctions, BRICS prioritizes politically neutral assets like gold over dollar-denominated reserves.