India currently holds 8% of the world’s total gold reserves. According to the information released by the World Gold Council, India’s gold reserves stood at 760.42 tonnes in the first quarter of 2022.
India’s gold reserves rose to 767.89 tonnes in the second quarter of 2022. Gold reserves rose to 785.35 tonnes in the third quarter of 2022. Gold reserves rose to 787.40 tonnes in the fourth quarter of 2022.
Gold reserves play a very important role not only in RBI but also in central banks of other countries. That is why central banks like RBI keep a large amount of gold in their reserves.
Currently, the value of gold in India has touched a new all-time high. The fall in the value of the US dollar is the cause of the rise in the value of gold. So far, the crisis in the international banking sector and economic fears are also causing gold to rise.
Gold is considered as a safe investment and asset in all kinds of crisis situations. Hence, even in times of danger, the value of gold rises.