At the same time, as the agency reports, most of the precious metal reserves have Russia and China. October 20th, 2024. EADaily

The BRICS group of emerging-market powers — the acronym stands for Brazil, Russia, India, China and South Africa — has gone from a slogan dreamed up at an investment bank two decades ago to a real-world club that controls a multilateral lender.

A recent report from the World Gold Council reveals that the BRICS nations (Brazil, Russia, India, China, and South Africa) collectively hold over 20% of the world's gold reserves. This substantial stockpile underscores the growing economic power and influence of these emerging economies.