India’s gold reserves surge in Q2 ’24

India’s central bank, the Reserve Bank of India (RBI), increased its gold reserves in the second quarter of 2024 to 854.73 metric tons, up from 822.10 metric tons at the end of March.

Domestically, the proportion of gold held also experienced a sharp rise, increasing to 510.46 metric tons from 408.31 metric tons in the previous quarter.

In terms of value, the share of gold in the total foreign exchange reserves rose from 8.15 per cent at the end of March 2024 to approximately 9.32 per cent at the end of September 2024.

Attribution: Reuters

Subediting: M. S. Salama