BRICS Nations Hold 17.4% of Global Gold Reserves as UBS Targets $5,200

BRICS gold reserves have gone up to more than 6,000 tonnes right now, which comes out to about 17.4% of total global gold reserves held by central banks, up from 11.2% back in 2019, according to EBC Financial Group. This also lines up with a more bullish gold price UBS outlook, and the bank’s gold price prediction 2027 has bullion reaching $5,200 an ounce by June. BRICS gold reserves are led, by quite a distance, by Russia and China, and the two together hold around 74% of the bloc’s total at the time of writing.

BRICS Gold Reserves Rise as Gold Price Forecast Turns Bullish

The rise in BRICS nations gold reserves fits into a bigger shift away from the dollar in official portfolios, and it is happening right when gold itself is also getting repriced higher by some of the biggest banks out there, which only adds to how fast BRICS nations gold reserves have been growing.

Russia and China Lead the Accumulation

Russia holds 2,336 tonnes, the largest single stake in the bloc, and China is close behind with 2,298 tonnes, while India holds 880 tonnes, an EBC note shows. These BRICS nations gold reserves numbers add up fast: BRICS Plus members bought more than half of all the gold purchased by sovereigns worldwide between 2020 and 2024, and in the first nine months of 2025 alone the group added another 663 tonnes, worth close to $91 billion.

Brazil also came back to the table in September 2025, adding 16 tonnes for its first purchase since 2021. This whole run of BRICS gold reserves growth goes back to 2022, when Western nations froze about $300 billion in Russian foreign exchange reserves, a move that pushed central banks toward gold sitting safely in vaults back home, and also out of reach of the SWIFT payments system.

The Dollar’s Shrinking Share of Global Gold Reserves

Global gold reserves are being reshaped by the same story, just from the currency side this time. IMF data shows the Dollar’s share of official reserves fell from 71% in 1999 to about 57% by the end of 2025, the lowest reading since 1994, and gold’s share of official reserve assets has more than doubled since 2015, going from below 10% to over 23% now. A World Gold Council survey also found that 73% of central bankers expect the Dollar’s share to keep falling over the next five years, and this too feeds back into how fast BRICS nations gold reserves keep growing.

Shaokai Fan, Global Head of Central Banks at the World Gold Council, had this to say:

“Central bank demand for gold remains on an upward trajectory.”

UBS Sees Gold Price Prediction 2027 at $5,200

Gold itself has been climbing fast, and the numbers coming out of UBS help explain why BRICS nations gold reserves and the wider market story keep moving together right now. The bank’s gold price prediction 2027 outlook has bullion reaching $4,600 by the end of 2026, then $5,000 in March 2027 and $5,200 by June 2027, and that gold price UBS forecast comes as the metal is already up almost 14% this month and trading above $4,600 at the time of writing.

UBS’s Chief Investment Office had this to say:

“We expect gold to move toward USD 5,200/oz over the next 12 months.”

Goldman Sachs’s FX strategy team also stated:

“The announcement drove the Dollar weaker virtually across the board.”

BRICS gold reserves and the gold price UBS outlook are pointing in more or less the same direction. As reserves keep climbing and global gold reserves tilt further away from the dollar, an UBS gold price prediction 2027 target of $5,200 gives the market a fairly concrete number to watch over the coming year, and BRICS nations gold reserves will likely stay part of that same story.