BRICS China Buys Gold: 14 Consecutive Months of Stockpiling – What's Driving the Surge?

China is accumulating gold for 14 consecutive months making it the largest buyer of the precious metal last year. Why is China, a key BRICS member, so aggressively increasing its gold reserves? The latest data shows that BRICS member China purchased 9 tonnes of gold in its latest buying spree. For more than a year, China's central bank has been buying up large amounts of gold, a trend that's caught the attention of economists and investors alike.

China and the BRICS Alliance: Gold's Biggest Buyers?

China and the BRICS alliance are the largest buyers of gold in recent years. Last year alone, China purchased several tonnes of gold worth $550 billion to its reserves. This significant accumulation is not just a Chinese phenomenon; it reflects a broader strategy within the BRICS nations. BRICS member China is stockpiling gold, adding the precious metal to its reserves throughout late. China is accumulating gold for 14 consecutive months, indicating a long-term strategy at play.

What's Fueling China's Gold Rush?

The move to accumulate gold, along with factors like the wars in Ukraine and Gaza, have helped spike the price of gold. Without calling into question this envisaged option, the BRICS monetary plans seem to be taking a completely different direction. It seems that for 14 months, the focus has been clear: China is accumulating gold. China is accumulating gold for 14 consecutive months making it the largest buyer of the precious metal last year. The latest data shows that BRICS member China's consistent gold purchases are a key indicator of global economic shifts.

This sustained buying spree highlights a potential shift in global economic power and reinforces gold's enduring role as a safe haven asset.