India Retrieves 102 Tonnes of Gold from Bank of England Amid Growing Global Uncertainty

The Reserve Bank of India (RBI) recently repatriated 102 tonnes of gold from the Bank of England, increasing its domestic gold reserves amid rising global tensions.

This move follows a similar transfer of 100 tonnes in May, bringing the total repatriated since 2022 to 214 tonnes. With 510.5 tonnes now held domestically, India aims to secure its gold assets at home rather than rely on overseas storage, which still holds 324 tonnes with the Bank of England and the Bank for International Settlements.

Gold’s share in India’s foreign reserves has grown to 9.3%, as local prices climb and consumer demand remains high, especially during the Dhanteras and Diwali festivals.

Clever Robot News Desk 3^rd November 2024