RBI Increases Gold Reserves by 25 Tonnes Amid Rising Gold Prices

The Reserve Bank of India (RBI) has increased its gold reserves by nearly 25 tonnes in the last six months of the 2024-25 financial year. During this time period, gold prices have risen by 30 percent. The RBI now holds 879.59 tonnes of gold, up from 854.73 tonnes at the end of September last year. In the previous financial year, the RBI purchased a total of 57 tonnes of gold.

In its latest report, the RBI stated that it is storing 511.99 tonnes of gold locally, 348.62 tonnes in safe custody with the Bank of England and the Bank for International Settlements (BIS), and 18.98 tonnes in the form of gold deposits.

The RBI moved more gold to local vaults in the first half of the last fiscal year. Gold held locally increased from 408 tonnes as of March 31, 2024 to 510.46 tonnes as of September 30, 2024. The RBI is expanding its gold reserves as global political and economic uncertainties rise.

The share of gold in total foreign exchange reserves increased to 11.70 percent by the end of March 2025, up from 9.32 percent six months earlier. The total foreign exchange reserves fell to $668.33 billion by the end of March 2025, down from $705.78 billion at the end of September 2024. Currently, these reserves can cover 10.5 months of imports.