Brazil, Russia, and China Acquire Approximately 20 Tons of Gold as Prices Reach Record Highs

New Delhi (Rajeev Sharma): Central Banks of 3 key BRICS nations, Brazil, Russia, and China, collectively acquired nearly 20 tons of gold in September 2025, valued at approximately $2.54 billion, amidst the metal’s historic price surge. The purchases occurred as gold (XAU/USD) approached the $3,900 mark, with prices later soaring past $4,000 in October, reaching an all-time high of $4,381 before settling near $4,010 this month. Brazil led with 15 tons, while Russia and China purchased 3 tons and 2 tons, respectively.
India also increased its gold holdings in October, further diversifying its central bank reserves. The BRICS bloc has been steadily increasing gold acquisitions over the past three years, which analysts believe could be part of a broader strategy to reduce dependency on the U.S. dollar and enhance monetary security. Speculation continues that BRICS may one day back its proposed common currency with gold, although no official confirmation has been made. Experts note that even with rising reserves, challenging the U.S. dollar’s dominance remains a distant goal for the alliance.