China has continued its gold purchasing trend for the 17th consecutive month as of March 2026, increasing the People's Bank of China's gold reserves to a historic 2,313 tonnes. According to NS3.AI, this move is part of a broader strategy by BRICS+ nations, whose collective reserves now account for 17.4% of global official gold holdings, a significant rise from 11.2% in 2019. Meanwhile, data from the International Monetary Fund's Currency Composition of Official Foreign Exchange Reserves (COFER) indicates a decline in the U.S. dollar's share of global allocated reserves, which fell to approximately 57% by the end of 2025, marking its lowest point since 1994.