RBI Gold Buys
RBI refrains from buying gold in Oct, reserves at 880.18 tn as of Oct 31
This story was originally published at 21:02 IST on 24 November 2025
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MUMBAI – The Reserve Bank of India refrained from adding gold to its reserves in October, after resuming purchases in the previous month. Its stock of the precious metal was steady on month at 880.18 tonnes as of Oct. 31, according to the central bank's monthly bulletin released Monday. However, its gold holdings were up over 1% on year in October.
RBI's gold reserves were valued at $101.73 billion as of Oct. 31, accounting for around 15% of the country's total foreign exchange reserves of $689.73 billion. "While gold prices strengthened in the first half of October on safe-haven demand, it showed some decline since the latter half, in the wake of softening in safe-haven demand flowing from the US-China trade truce and a strengthening US dollar," according to the bulletin.
"Core inflation (CPI excluding food and fuel) moderated marginally. However, excluding the impact of high gold and silver prices, the decline in core inflation was steeper, falling to an all-time low," it said.
The monthly average price of gold in Mumbai rose to INR 109,591 per 10 grams in September from INR 99,696 per 10 grams in August, and up from INR 72,878 per 10 grams in September 2024, the bulletin said, citing India Bullion and Jewellers Association data.
At 2008 IST, the December gold contract on COMEX was at $4,072.9 per ounce, down 0.2% from the previous close. The December contract on the Multi Commodity Exchange of India was down 0.6% at INR 123,420 per 10 grams. End
US$1 = INR 89.23
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Akul Nishant Akhoury
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