RBI's Gold Reserves Surge Amid Global Price Rally

The Reserve Bank of India has reported a sharp increase in the valuation of its gold reserves, which have tripled over the past year to reach Rs 6.8 lakh crore. This surge is attributed to rising global gold prices and the central bank's continued purchases to strengthen its holdings.

 

According to the latest data, the value of RBI’s gold reserves rose by Rs 11,986 crore in the week ending April 11, reflecting a broader trend among central banks worldwide. Gold is widely regarded as a safe-haven asset, particularly during periods of economic uncertainty, prompting institutions to bolster their reserves.

 

India’s foreign exchange reserves have also seen consistent growth, reinforcing the RBI’s ability to manage external financial shocks. Analysts note that the global demand for gold remains strong, driven by geopolitical tensions and inflation concerns. The Multi Commodity Exchange of India recorded gold prices at an all-time high, further emphasizing the metal’s appeal as a stable investment.

 

Sources: ThePrint, The Tribune, News24.