RBI’s gold reserves jump nearly Rs 12,000 crore in a week

Representative picture (Picture credit score: ANI)

India’s central financial institution noticed a sharp jump in the worth of its gold reserves throughout the week ending April 11, pushed by a world rally in gold costs amid heightened geopolitical and financial uncertainty.
According to information launched by the Reserve Bank of India (RBI) on Friday, the worth of its gold holdings surged by Rs 11,986 crore in only one week. With this enhance, the full worth of RBI’s gold reserves has risen to Rs 6,88,496 crore, reported ANI.
This sharp enhance additionally displays a broader pattern over the previous yr. The RBI’s gold holdings have nearly tripled in worth throughout this era, underlining a vital rise in gold purchases by the central financial institution.
This comes at a time when central banks worldwide are stepping up their gold accumulation to hedge towards world dangers.
Gold continues to be seen as a safe-haven asset during times of uncertainty. The ongoing world commerce tensions, notably these linked to tariff disputes between the US and China, together with considerations over a weakening US greenback, have pushed central banks to extend their gold publicity.
On the home entrance, gold futures on the Multi Commodity Exchange of India (MCX) hit recent report highs. The June 5 contract soared to Rs 95,935 per 10 grams on Thursday. The surge has been attributed to safe-haven demand spurred by the Trump administration’s tariff coverage and retaliatory measures from China.
“Gold prices raced to an all-time high, driven by a weaker dollar, trade war tensions and concerns over global economic growth due to US President Donald Trump’s tariff plans, which led to safe-haven inflows,” stated Manav Modi, senior analyst, commodity analysis at Motilal Oswal Financial Services.
The RBI’s rising gold reserves, coupled with a regular rise in total international change reserves, level to a extra resilient place in managing exterior shocks. Growing curiosity in gold-backed ETFs and central financial institution shopping for amid persistent geopolitical considerations has additional fuelled the yellow steel’s upward trajectory globally.