RBI Moves 100 Tonnes Gold from UK to Its Vaults in India: Report
Moneylife Digital Team 31 May 2024
Reserve Bank of India (RBI) has moved 100 tonnes of gold from the UK to its vaults in India, marking a significant shift in gold storage, says a report.
 
In the report, Times of India (ToI) says this is the first time at least since early 1991, when RBI has added precious metal at this scale to the stock held in India.
 
An official told the newspaper that “RBI started purchasing gold a few years ago and decided to review where it wants to store it, something that is done from time to time. Since the stock was building up overseas, it was decided to get some of the gold to India.” 
 
Official sources told ToI that a similar quantity of gold may be headed into the country again in the coming months. The transfer to locations within the country was for logistical reasons, as well as for diversified storage, the officials added.
 
According to the latest data, at the end of March, RBI had 822.1 tonnes of gold, of which 413.8 tonnes were stored overseas.
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