Gold Buying: In the last one year, there has been a tremendous rise in the price of gold. The price of gold also touched a record of Rs 1 lakh per 10 grams. Even today, the rate of gold is crossing 97 thousand. Many people are unable to purchase gold due to a record speed in the price of gold. This has also led to a decline in demand for gold. However, the record boom in the price of gold has not affected the Reserve Bank of India i.e. RBI. RBI has purchased a record 25 tonnes of gold in the last one year.
RBI reserve increased to 879.59 tonnes
RBI has increased about 25 tonnes of gold in its store in the second half of FY 2024-25. This information was received from the government data released on Monday. The central bank now has 879.59 tonnes of gold in its reserves, while it had 854.73 tonnes of gold at the end of September 2024. In the financial year 2024-25, the central bank increased the amount of gold in its reserves by 57 tonnes, during which the gold prices saw a rise of 30 percent. This is the biggest annual growth in the last seven years. According to the half -yearly report on the management of foreign exchange reserves by the central bank, the locally stored precious metal volume increased to 511.99 tonnes. In addition to gold kept in local chests, 348.62 tonnes of gold was with Bank of England and Bank for International Settlements (BIS) and kept as 18.98 tonnes of gold deposits.
Gold brought from abroad to India
In the first half of FY 2025, the Reserve Bank transferred a large amount of gold from abroad to Indian chests from abroad. The total amount of gold stored in local chests was 510.46 tonnes as of 30 September, which is more than 408 tonnes on 31 March, 2024. The movement of gold during the time of increasing geopolitical stress globally was said to be one of the biggest movement of gold made by India since 1991. The report said that the gold share in the total foreign exchange reserves increased from 9.32 percent to 11.70 percent by the end of March 2025.
The report stated that the total foreign exchange reserves declined from $ 705.78 billion in the end of September 2024 to $ 668.33 billion in March 2025. These reserves are now sufficient to meet 10.5 months of import requirements, while in September 2024 it is less than the condition of meeting 11.8 months.
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