In a world where the rules of global finance and power are being rewritten, a bold new chapter is unfolding—one led by the nations of the Global South, especially those within the BRICS alliance. As 2025 draws to a close, a growing sense of justice and self-determination is propelling these countries to stake their claim as equal architects of the international system, challenging the long-standing dominance of the West and its dollar-centric order.
According to Anastasia Savinykh, an analyst at the Belarusian Institute for Strategic Research, "A growing sense of justice is motivating Global South nations to become equal architects of the future international system," as reported by Xinhua. This drive, she explains, is rooted in a dissatisfaction with simply responding to agendas set by the West. Instead, countries across Africa, Asia, and Latin America are shaping their own development paths, prioritizing fairness, mutual respect, and a renewed commitment to foundational principles like the Five Principles of Peaceful Coexistence—mutual respect for sovereignty and territorial integrity, mutual non-aggression, mutual non-interference, equality and mutual benefit, and peaceful coexistence.
This philosophical shift is not just about rhetoric. It’s translating into concrete action, particularly in the realm of global finance. The BRICS bloc—comprising Brazil, Russia, India, China, and South Africa, along with several aligned nations—has emerged as a powerhouse, now controlling roughly half of global gold production. As of December 2025, the alliance’s combined output from both member and aligned countries accounts for about 50% of the world’s gold supply, a figure that has sent ripples through international markets.
China and Russia, in particular, have spearheaded this gold accumulation drive. In 2024 alone, Beijing produced 380 tonnes of gold, while Moscow contributed 340 tonnes, as both nations systematically diversified away from dollar assets. This isn’t happening in isolation. According to data from the World Gold Council, central banks worldwide have purchased more than 1,000 tons of gold annually from 2022 to 2024, marking the longest continuous buying streak in modern history. The implications are profound: power is shifting from traditional Western vaults to the heart of Asia and Eurasia.
The numbers are striking. BRICS gold reserves now collectively exceed 6,000 tons, with Russia holding 2,336 tonnes, China 2,298 tonnes, and India 880 tonnes. Brazil, for its part, made a notable move by adding 16 metric tonnes to its reserves in September 2025—the country's first such purchase since 2021, bringing its total reserves to 145.1 tonnes. Market watchers are keeping a close eye on the bloc’s strategy, which is altering the dynamics of precious metals trading and, by extension, the broader financial system.
Frank Giustra, a prominent Canadian mining investor, captured the mood at the Precious Metals Summit in Beaver Creek, Colorado: "Now, believe it or not, we are in the era of hard money. If you own paper gold, you do not own real gold. When the crisis comes, it will not be there." His words echo a growing sentiment among investors and policymakers who see gold as a bulwark against financial turbulence and the perceived unreliability of the US dollar.
The de-dollarization strategy adopted by BRICS is perhaps the most significant development in this story. The alliance has not only ramped up gold purchases but has also launched a pilot program for a gold-backed currency instrument known as the "Unit." Released on October 31, 2025, the pilot issued 100 Units, each pegged to 1 gram of gold and backed by a mix of 40% physical gold and 60% BRICS national currencies. This move represents a direct challenge to the dollar’s role as the world’s primary reserve currency and signals the bloc’s intent to build independent pricing platforms and settlement systems.
Yevgeny Biryukov, an economics expert speaking to Russian media on December 13, laid out the rationale behind these moves: "For BRICS countries, gold is a tool for protection against sanctions risks, a response to the unreliability of traditional partners, and a real asset with a thousand-year history of recognition." The message is clear: in a world where sanctions and financial exclusion are potent tools of geopolitical influence, gold offers a measure of security and autonomy.
This transformation is not happening in a vacuum. The Eurasian Economic Union, for example, now conducts nearly all of its trade using member currencies, with Russia and China settling almost all mutual commerce in yuan and rubles. This shift began to accelerate after Western sanctions hit Russia in the wake of the Ukraine conflict in February 2022, prompting a search for alternatives to dollar-based systems.
Meanwhile, gold prices have soared to record highs, surpassing $4,000 per ounce by the end of 2025. Yet, central banks remain undeterred, continuing to add to their reserves. The BRICS bloc has even established a joint gold pool for market stabilization and is developing shared infrastructure across Russia, China, the UAE, and South Africa. Among their most ambitious initiatives is the creation of an independent "BRICS Gold Price" benchmark, designed to challenge the dominance of dollar-denominated pricing mechanisms.
These moves are not just about economics—they are about legitimacy and a new vision for global governance. Savinykh, the Belarusian analyst, points to the Shanghai Cooperation Organization (SCO) Tianjin Summit as a critical platform for advancing a more inclusive global vision. She also highlights Belarus’s full support for China’s Global Governance Initiative, calling it a constructive approach to building a more balanced world. The rapid expansion of the BRICS bloc, she notes, is a clear sign of the Global South’s growing influence and desire to define progress on its own terms.
Amid fragmented global relations, mechanisms like SCO and BRICS offer what Savinykh describes as "a more legitimate and effective model for development." Here, progress is no longer dictated by a single global leader but emerges from a genuinely multipolar world order—one where countries transform their geographical and economic ties into the foundation of a more just and equitable system.
As the BRICS alliance tightens its grip on gold and accelerates its de-dollarization strategy, the world is witnessing a fundamental restructuring of international finance. The combination of growing reserves, innovative currency instruments, and assertive policy reforms is positioning the bloc for a long-term shift away from dollar dominance. Whether this will usher in a new era of stability or spark further volatility remains to be seen, but one thing is certain: the Global South is no longer content to sit on the sidelines. The future of global finance is being forged in real time—and the world is watching.
