NEW DELHI: In November 2024, central banks globally added a combined total of 53 tonnes of gold to their reserves, with the Reserve Bank of India (RBI) contributing 8 tonnes, according to the World Gold Council (WGC). In 2024, central banks, particularly those from emerging markets, continued to be avid buyers of gold, to achieve…
NEW DELHI: Global central banks remained active in the gold market in November 2024, collectively adding 53 tonnes of the precious metal to their reserves, according to the World Gold Council.This sustained buying trend reflects the growing preference for gold as a stable and secure asset amidst global economic uncertainties.India’s year-to-date purchased 73 tonnes of…
The RBI maintains that its gold reserves serve primarily to diversify its foreign currency assets portfolio. (AI image) The RBI’s strategic gold buying has bolstered India’s foreign exchange reserves, offsetting the significant outflow of foreign portfolio investments that resulted in a $47 billion reduction in reserves over a five-week period.Since December 2017, the RBI has…