RBI parks majority of its gold reserves in India; Local holdings up 100 tonnes in H1

The Reserve Bank of India increased its domestic gold holdings by over 100 metric tonnes by September 2024. It now holds 854.73 metric tonnes of gold, with a significant portion stored domestically. The share of gold in the RBI’s total foreign exchange reserves also rose to 9.32%, amidst a rise in overall foreign reserves to $705.78 billion.