India’s central bank gold pile crosses $100 billion as bullion surges
India’s gold reserves have surged past $100 billion for the first time, reaching ~$102.4 billion, driven by skyrocketing global gold prices. The increase boosted gold’s share in India’s forex reserves to ~14.7%, the highest since 1996–97. RBI’s own gold purchases have slowed, so the valuation gains are largely driven by price appreciation. Meanwhile, total foreign reserves dipped slightly to $697.78 billion. The milestone underscores gold’s growing role in central bank reserve diversification.
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2 days ago
India’s central bank gold pile crosses $100 billion as bullion surges
India’s gold reserves have surged past $100 billion for the first time, reaching ~$102.4 billion, driven by skyrocketing global gold prices. The increase boosted gold’s share in India’s forex reserves to ~14.7%, the highest since 1996–97. RBI’s own gold purchases have slowed, so the valuation gains are largely driven by price appreciation. Meanwhile, total foreign reserves dipped slightly to $697.78 billion. The milestone underscores gold’s growing role in central bank reserve diversification.
neutral
India’s central bank gold pile crosses $100 billion as bullion surges
2 days ago
1 min read
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India’s RBI gold reserves top $100B, raising bullion’s share in forex reserves to record levels.
India’s gold reserves have surged past $100 billion for the first time, reaching ~$102.4 billion, driven by skyrocketing global gold prices. The increase boosted gold’s share in India’s forex reserves to ~14.7%, the highest since 1996–97. RBI’s own gold purchases have slowed, so the valuation gains are largely driven by price appreciation. Meanwhile, total foreign reserves dipped slightly to $697.78 billion. The milestone underscores gold’s growing role in central bank reserve diversification.
India’s gold reserves have surged past $100 billion for the first time, reaching ~$102.4 billion, driven by skyrocketing global gold prices. The increase boosted gold’s share in India’s forex reserves to ~14.7%, the highest since 1996–97. RBI’s own gold purchases have slowed, so the valuation gains are largely driven by price appreciation. Meanwhile, total foreign reserves dipped slightly to $697.78 billion. The milestone underscores gold’s growing role in central bank reserve diversification.