RBI gold pile tops $100 bn on surging bullion prices

India’s gold reserves crossed the $100 billion mark for the first time, according to the Reserve Bank of India’s latest foreign exchange reserves data, buoyed by a global price rally even as the central bank's purchases slowed sharply this year.

- Reuters

The share of gold in India’s total reserves climbed to 14.7%, the highest since 1996-97, according to traders.

Gold's share in India’s foreign exchange reserves has almost doubled over the past decade — from below 7% to nearly 15% — reflecting both steady central bank accumulation and a surge in global bullion prices.

That's led to the $100 billion milestone being hit despite a marked slowdown in the RBI's gold purchases this year.