RBI Bought 57 Tonnes Of Gold In One Year
RBI Bought 57 Tonnes Of Gold – The sudden increase in the price of gold in the last few days has put everyone in tension. After touching the lakh mark, everyone is waiting for the price of gold to come down again. Meanwhile, there is good news for gold. That is, the price of gold is going to come down further. Let’s find out what the reason behind this is… You also read this 24 Carat Gold Is Available For 60 Thousand Rupees
India’s central bank, the Reserve Bank of India (RBI), has made a significant increase in its gold reserves in the second half of the financial year 2024-25. The RBI has now purchased about 25 tons of gold, taking India’s total gold reserves to 879.59 tons at the end of March 2025. The figure was 854.73 tons at the end of September 2024.
Highest annual purchase in 7 years
For the entire fiscal year 2025, the RBI has purchased a total of over 57 tons of gold, the highest annual purchase in the last seven years. What is noteworthy is that this purchase has been made at a time when the price of gold in the global market has increased by about 30 percent.
Where did RBI put all this?
According to the RBI’s official half-yearly report, out of the total 879.59 tonnes of gold as of March 2025, 511.99 tonnes of gold was held in India itself. At the same time, 348.62 tonnes of gold was kept safe with the Bank of England and the Bank for International Settlements (BIS). While 18.98 tons of gold was held in the form of gold deposits.
In the first half of FY25, the RBI transferred a large portion of its gold reserves to India. The reserves, which stood at around 408 tonnes as of March 31, 2024, are expected to increase to 510.46 tonnes by September 2024. This is considered the largest domestic gold transfer since 1991. At the time, India was struggling with a foreign exchange crisis and had to pledge its gold.
Foreign exchange reserves decreased, but gold share increased
India’s total foreign exchange reserves have declined to $668.33 billion at the end of March 2025, from $705.78 billion in September 2024. However, despite this decline, the share of gold has increased from 9.32 percent to 11.70 percent. With these foreign exchange reserves, India can cover 10.5 months of imports, which is slightly less than earlier. In September 2024, this cover was 11.8 months.
The move comes in the wake of global geopolitical tensions and international financial uncertainty. Gold has always been considered a safe haven investment, and in the current international scenario, RBI wants to secure and diversify its reserves.
Why did RBI buy gold in such large quantities?
The move comes in the wake of global geopolitical tensions and international financial uncertainty. Gold has always been considered a safe haven investment, and in the current international scenario, RBI wants to secure and diversify its reserves.
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