Brazil is beefing up its gold reserves

Brazil’s Central Bank has quietly joined a global wave of gold buying, rebuilding its position as monetary authorities confront the most uncertain international landscape in years. After more than three years without adding to its stocks, the institution purchased roughly 31.5 tonnes of gold in September and October, lifting Brazil’s holdings to 161.1 tonnes, according to Central Bank data.

The acquisitions come as gold prices soar to historic levels. The World Gold Council’s Gold Demand Trends Q3 2025 report showed the LBMA¹ benchmark hitting 13 all-time highs in Q3, with an average price of USD 3,456.54 per ounce, up 40% year-on-year. 

Total quarterly gold consumption, including over-the-counter transactions, reached 1,313 tonnes, the highest level in the Council’s series. Central banks alone bought 220 tonnes in the same period, a 28% rise from the previous quarter.