The Reserve Bank of India (RBI) has been aggressively buying gold this year, purchasing one and a half times the amount bought in the whole of 2023 in just the first four months of this calendar year. A big portion of this gold is held overseas, but the RBI is now planning to bring back a portion of these reserves. This move comes amid risks following the West freezing Russian assets. The RBI holds 822.10 metric tonnes of gold, with 387.26 metric tonnes kept in safe custody with the Bank of England and the Bank for International Settlements (BIS).
ET Explains: Why RBI keeps gold abroad?
