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BRICS Gold Reserves Surge as Dollar Weakness Accelerates Central Bank Diversification
BRICS Gold Reserves Surge as Dollar Weakness Accelerates Central Bank Diversification
BTCCSquare news:
BRICS nations have amassed over 6,000 tonnes of Gold reserves—equivalent to 20% of global central bank holdings—with Russia and China dominating 74% of the bloc's stockpile. JP Morgan projects gold could reach $6,000/oz by 2028, citing relentless central bank accumulation and dollar devaluation as key drivers.
The strategic shift away from dollar-denominated assets intensifies as Russia, India, and China aggressively acquire physical gold. "This isn't gold appreciating—it's the dollar depreciating," notes Professor Adrian Saville of the Gordon Institute of Business Science. Central banks purchased 1,000+ tonnes annually from 2022-2024, signaling structural demand.
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