India, the world’s fifth largest economy, also has the seventh highest gold reserves globally. (AI image) Today is Akshaya Tritiya and buying gold is considered auspicious. But did you know that gold is considered a safe haven asset – not just by individuals but also central banks. Which explains why central banks around the world…
The RBI’s gold acquisitions align with the worldwide trend of central banks actively purchasing gold. (AI image) The Reserve Bank of India (RBI) acquired 57.5 tonnes of gold during FY25, expanding its holdings of safe haven assets whilst gold prices increased by over one-third during a period of instability in global financial markets. The RBI’s…
NEW DELHI: FM Nirmala Sitharaman on Monday clarified in the Lok Sabha that India’s rising gold reserves, including those held by RBI, is not intended to replace any international currency.She responded to Congress MP Manish Tiwari’s concerns about whether the global shift towards gold signalled a move away from the US dollar as a dominant…