Reports from central banks of BRICS countries or reputable financial publications

China's Gold Reserves Hit Record 2,300 Tonnes, BRICS Lead with 20% of Global Holdings

Oct 20, 2024, 05:30 AM

China's gold reserves have reached approximately 2,300 tonnes, setting a new record and constituting nearly 5% of the country's total foreign exchange reserves. This increase is part of a broader trend where central banks' gold holdings have risen sixfold this century. Globally, gold now accounts for 17.6% of international reserves held by central banks, surpassing the Euro for the first time in history. The US dollar remains the dominant reserve currency with a 48% share. Additionally, BRICS countries collectively hold over 20% of the world's gold reserves, with Russia and China leading the group. Russia alone possesses 2.34 thousand tons, which is 8.1% of global reserves.