BRICS CB Divergences: China/India Buys, Russia/Turkey Sells Amid Record Pace
Key Questions
Which BRICS countries are buying gold?
China's PBOC continues its buying streak, and India added 100t to reach 880t reserves.
Which BRICS nations are selling gold?
Russia sold 22t YTD plus imposed a May 1 export ban (74.1M oz), while Turkey sold/swapped 60t for liquidity.
What was Q1 central bank gold net buying?
Q1 net central bank purchases totaled 244t amid divergences.
What broader trends involve gold reserves?
Germany and Italy face US repatriation calls; CB supercycle hoarding continues with de-dollarization motives.
How does this relate to BRICS and dollar?
BRICS divergences signal dollar exit strategies, with central banks buying like never before in a potential gold reset.
China PBOC 16th month to 2309t/India 100t to 880t buys; Russia 22t YTD sells +export ban (74.1M oz); Turkey 60t sell/swap; Q1 net 244t record ($37bn), Germany/Italy repatriate, supercycle hoarding fuels rise despite dollar/Fed pressure. (first seen: 2026-05-03, last updated: 2026-05-05)