New Delhi, 6 January(HS): The Reserve Bank of India (RBI) is continuously increasing its gold reserves. Central banks around the world collectively added 53 tonnes of gold to their gold reserves in November 2024, which also included eight tonnes of gold of RBI.

The World Gold Council (WGC) has said in its report released on Monday that central banks around the world continued to demand gold in the last phase of the year 2024. In November, central banks collectively increased their share of gold reserves by 53 tonnes. According to the report, the Reserve Bank continued the process of buying gold in the year 2024 in November and added eight tonnes of gold to its reserves. With this, the total amount of gold purchased by RBI in the year 2024 increased to 73 tonnes, while its total gold reserves increased to 876 tonnes.

According to the report, in the year 2024, the central banks of most emerging markets remained buyers of gold in view of the need for a stable and safe asset in the environment of global economic uncertainty. According to the WGC, RBI has been second only to Poland's central bank NBP in terms of gold purchase in 2024. The National Bank of Poland (NBP) bought a total of 21 tonnes of gold in November, taking its total purchase to 90 tonnes. The report said that the People's Bank of China resumed buying gold after a gap of six months, it bought five tonnes of gold in November, increasing its total purchase to 34 tonnes. In this way, the central bank of China has a total gold reserve of 2,264 tonnes.

According to the WGC report, the Monetary Authority of Singapore was at the forefront in terms of selling gold in the month of November. It sold five tonnes of gold in November, reducing its total gold reserves to 223 tonnes.

Hindusthan Samachar / Jun Sarkar