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RBI Gold Buying: The World Gold Council (WGC) said on Thursday that in October, central banks around the world bought 60 tonnes of gold, in which the Reserve Bank of India (RBI) was at the forefront by buying 27 tonnes of gold. According to these WGC data based on the monthly report of the International Monetary Fund (IMF), India increased its gold reserves by 27 tonnes in the month of October, taking its total gold purchase from January to October this year to 77 tonnes.
Gold purchases increased compared to last year
WGC said that this gold purchase by RBI represents a five-fold increase compared to the same period last year. Data shows that with this purchase, India’s total gold reserves now stand at 882 tonnes, out of which 510 tonnes are present in India.
WGC gave important information
WGC said that central banks of emerging markets have maintained their dominance in the matter of purchasing gold. Turkey and Poland have increased their gold reserves by 72 tonnes and 69 tonnes respectively during January-October 2024. It said that the central banks of these three countries alone have purchased 60 percent of the total global net purchase of gold this year.
Tomorrow is the last day of the Monetary Policy Committee meeting of the Reserve Bank
The meeting of the Monetary Policy Committee of the Reserve Bank of India (RBI) started from December 4 and its result is going to come tomorrow. RBI Governor Shaktikanta Das will announce the decisions of the RBI MPC meeting on Friday. Most experts believe that RBI will not make any changes in its rates in this monetary policy. RBI MPC meeting
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