BRICS Gold Holdings Reach 17.4%, UBS Predicts $5,200 Price

The gold holdings of BRICS Plus countries have increased to 17.4% of the world's central bank gold reserves. The central banks' gold purchases and the decline in dollar holdings are being cited as major variables in the gold and crypto markets. According to EBC Financial Group data, the gold reserves of BRICS Plus countries exceed 6,000 tons, with Russia holding 2,336 tons, China 2,298 tons, and India 880 tons. The gold reserves of Russia and China account for approximately 74% of the total BRICS holdings. EBC has stated that from 2020 to 2024, BRICS central banks accounted for more than half of global sovereign gold purchases. Between January and September 2025, BRICS countries added 663 tons of gold, amounting to $91 billion. Brazil made its first gold purchase since 2021, acquiring 16 tons on September 16, 2025. Gold is considered an asset among central bank reserves that is not tied to the credit of specific countries, and due to Western financial sanctions and risks associated with the dollar payment network, some emerging market central banks are placing greater importance on gold. UBS expects gold prices to reach $5,200 per ounce over the next 12 months. Gold prices are influenced by interest rates and dollar flows, and changes in central bank holdings of gold are also used as indicators for reading the macro environment in the crypto market.

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