RBI Reveals Surge in India's Gold Reserves Amid Global Crisis

India's gold reserves held by the Reserve Bank of India (RBI) have reached 854.73 metric tonnes, with a significant portion stored domestically. The latest report underscores gold's rising share in foreign exchange reserves, highlighting its growing role as a stable asset amidst global economic fluctuations.

Amid an ongoing global economic crisis, the Reserve Bank of India (RBI) has reported a significant stockpile of gold reserves, totaling 854.73 metric tonnes. Detailed in a recent release, the report discloses that 510.46 metric tonnes of this precious metal are stored domestically.

The remainder, approximately 324.01 metric tonnes, is safeguarded internationally with the Bank of England and the Bank for International Settlements (BIS). In addition, 20.26 metric tonnes are maintained as gold deposits, contributing to liquidity and financial security.

As of the end of September 2024, the share of gold in India's total foreign exchange reserves rose to 9.32 per cent, a noticeable increase from the 8.15 per cent recorded in March of the same year. This uptick underscores the growing importance of gold in RBI's reserve strategy amid fluctuating global economic conditions.

Published biannually, the RBI's report offers transparency regarding the nation's foreign exchange reserves, including gold holdings. It serves as a cornerstone for maintaining financial stability through regular disclosure and provides valuable insights into India's economic resilience and reserve management strategies.

(With inputs from agencies.)