Safe-haven asset. Gold’s share in India’s reserves hits 11.4% as RBI goes on buying spree

RBI was active throughout the year, purchasing gold in 11 of the 12 months and adding another 2.8 tonnes in the first two months of 2025
As gold prices surge to historic highs on the back of heightened geopolitical uncertainty, data shows that India’s central bank, the Reserve Bank of India, has been an aggressive buyer in the last year, and the share of gold in India’s total reserves has almost doubled.

The share of gold in India’s total foreign exchange reserves rose sharply to 11.4% in 2024, up from just 6.7% in 2019.

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