BRICS is a bloc of major emerging economies that has made building sovereign gold reserves a deliberate policy priority. The original five — Brazil, Russia, India, China, and South Africa — were joined in January 2024 by Egypt, Ethiopia, Iran, and the UAE, and in January 2025 by Indonesia. That brings confirmed full membership to ten countries. Saudi Arabia was invited but its formal accession remains unconfirmed. Argentina declined in late 2023.
The bloc now represents approximately 40% of global GDP (purchasing power parity) and roughly half of the world’s population [IMF / BRICS Brazil Presidency]. When nations of this economic weight make coordinated reserve decisions, they move markets structurally — not temporarily.