India’s gold reserves, overseen by the Reserve Bank of India (RBI), have reached 854.73 metric tonnes, according to the central bank’s latest report on foreign exchange reserves. The report, covering updates as of September 2024, reveals that most of this gold, approximately 510.46 metric tonnes, is stored domestically within India. The remainder, about 324.01 metric tonnes, is safeguarded abroad with the Bank of England and the Bank for International Settlements. An additional 20.26 metric tonnes are kept as gold deposits, enhancing liquidity and financial security.
The report also highlights that gold’s share in India’s overall foreign exchange reserves has increased, rising to 9.32% by September from 8.15% in March 2024. This shift underscores gold’s significance as a reliable reserve asset for the RBI, providing economic stability in uncertain times.
RBI’s semi-annual reports offer transparency on India’s reserve management, sharing comprehensive insights into foreign exchange and gold holdings at the end of March and September each year. These reports reinforce the central bank’s commitment to maintaining clear communication on India’s economic resilience and reserve strategies, promoting trust among stakeholders and the public alike.
