PRECIOUS METALS | BRICS Nations Increase Gold Reserves Amid Global Trade Developments

BRICS nations have significantly increased their share of global gold reserves, holding 17.4% as of April 2026, compared to 11.2% in 2019. According to NS3.AI, this rise in reserves has occurred alongside gold trading near $4,850 per ounce. The accumulation of gold reserves has been driven by accelerated sovereign purchasing following the 2022 freeze of approximately $300 billion in Russian reserves. Additionally, BRICS countries have initiated a pilot of the Unit, a trade instrument backed by gold and BRICS currencies, further influencing their gold reserve strategy.