rbi gold reserves

RBI increased gold reserves by 8 tonnes in November amid safe-haven demand

The Reserve Bank of India (RBI) bought eight tonnes of gold in November 2024 as central banks around the world continued their buying spree with a collective purchase of 53 tonnes of the precious metal during the month, according to the latest World Gold Council (WGC) report. The decline in gold prices during November, following the US election, may have provided some central banks with the added impetus to accumulate the precious metal, the report pointed out. RBI has, like other central bank...

October 30, 2024 11:58 AM

RBI increases gold reserves to 855 metric tonnes; forex reserves cover 11.2 months of imports

India's total gold reserves held by the Reserve Bank of India (RBI) amount to 854.73 metric tonnes, according to the central bank's latest report. Released on Tuesday, the report indicates that a significant portion of these reserves, 510.46 metric tonnes, is stored domestically within India. The remaining gold reserves are held abroad, with 324.01 metric tonnes kept in safe custody at the Bank of England and the Bank for International Settlements (BIS). Additionally, 20.26 metric tonnes of go...