RBI Gold Buys
RBI refrains from buying gold in Aug, reserves at 879.98 tn since Jun 27
This story was originally published at 22:04 IST on 24 September 2025
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MUMBAI – The Reserve Bank of India refrained from adding gold to its reserves in August, the second month of pause. Its stock of the precious metal has remained steady at 879.98 tonnes since Jun. 27, according to the central bank's monthly bulletin released Wednesday. However, its gold holdings were up 3% on year in August.
The RBI's gold reserves were valued at $86.77 billion as of Aug. 29, accounting for over 12% of the country's total foreign exchange reserves of $694.23 billion. "After remaining rangebound, gold prices surged since end-August to all-time highs, buoyed by safe-haven demand," according to the bulletin. Core inflation edged up to 4.2% in August from 4.1% in July. The uptick in inflation was mostly driven by the 'personal care and effects' sub-group, on account of rising gold prices. Gold contributed around 28% to core inflation in August, it said.
The monthly average price of gold in Mumbai rose to INR 97,581 per 10 grams in July from INR 97,176 per 10 grams in June, and up from INR 71,189 per 10 grams in July 2024, the bulletin said, citing India Bullion and Jewellers Association data.
At 2101 IST, the December gold contract on COMEX was at $3,788.2 per ounce, down 0.7% from the previous close. The October contract on the Multi Commodity Exchange of India was down 0.8% at INR 112,951 per 10 grams. End
US$1 = INR 88.69
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Ashish Shirke
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