RBI data shows gold reserves rose 5.6 tn to 848.98 tn in August
This story was originally published at 20:45 IST on 20 September 2024
Register to read our real-time news.Informist, Friday, Sep 20, 2024
NEW DELHI – The Reserve Bank of India's gold reserves rose 5.6 tn during the period Jul 26-Aug 30 to 848.98 tn, data from the central bank's bulletin released today showed. So far this calendar year, the RBI has added 45.4 tn of the metal to its treasury.
"Gold prices... increased by 4.3 percent in August (m-o-m), backed by expectations about rate cuts and safe haven demand amidst geopolitical tensions," the RBI said in the bulletin. "Secured retail credit like gold loans, vehicle and housing loans, along with industry and service sector loans continue to exhibit robust growth."
The monthly average price of gold in Mumbai fell marginally to 71,189 rupees per 10 gm in July from 72,014 rupees per 10 gm in June, and up from 58,922 rupees in the same month a year ago, the bulletin said, citing India Bullion and Jewellers' Association data.
The October gold contract on COMEX was $2,631.25 per oz, up 0.6% from the previous day's close. End
US$1 = 83.56 rupees
Reported by Sayantan Sarkar
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
