Desk : Gold reserves held by the Reserve Bank of India (RBI) have increased by around 40 per cent in the last five years, which is in line with the buying spree by other central banks. India’s gold reserves increased from 618 metric tons in September 2019 to 854 metric tons in September 2024.
The RBI now has more gold reserves in the country. The latest data from the central bank shows that the country has 510 metric tons of gold reserves, representing 60 percent of total reserves as of the end of September and 50 percent in March. Between March and September, gold rose 1.5 percent nationally.
Gold reserves increased by 102 tons. 324 metric tons of gold were kept safe at the Bank of England and the Bank for International Settlements (BIS). 20 metric tons of gold were kept as gold reserves.
In value terms (in US dollars), gold’s share of total foreign exchange reserves will rise from 8.15 percent at the end of March 2024 to around 9.32 percent at the end of September 2024.
