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Reserve Bank is on a gold-buying spree
The New Indian Express Villupuram
|April 21, 2025
WITH the US dollar losing its sheen as the world's most trusted reserve currency, central banks across the world have been on a gold buying spree.
The Reserve Bank is in the forefront as the second largest buyer of the yellow metal, snapping up 2.8 tonnes in January and February 2025 alone, on top of 72.6 tonnes in 2024, taking the overall haul to 879 tonnes.
At 879 tonnes, the share of gold in the country's total forex reserves is as high as 11.7% of $677.8 billion, according to the latest Reserve Bank data for the week to April 11, when it rose by $1.56 billion over the previous week marking the fifth consecutive weeks of gains.
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