BRICS members’ gold reserves are not anti-dollar; they’re anti-monopoly

Source: Livemint | Original Published At: 2025-12-31 05:29:30 UTC

Key Points

• BRICS nations control nearly 50% of global gold production and hold significant gold reserves (over 6,000 tonnes collectively)
• Post-2022 Western sanctions accelerated BRICS' efforts to reduce dollar dependence through gold accumulation and local-currency trade
• Gold serves as a neutral hedge against currency debasement and geopolitical risks, with Russia and China holding over 2,000 tonnes each
• BRICS is developing alternative financial infrastructure including digital settlement instruments and expanded local-currency trade mechanisms
• De-dollarization described as 'rebalancing' rather than rejection, aiming for a multi-currency global financial system