RBI's gold reserves at 879.01 tn as of Feb 28, unchanged on month
This story was originally published at 20:03 IST on 19 March 2025
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MUMBAI – Gold reserves with the Reserve Bank of India were at 879.01 tonnes as of Feb. 28, unchanged on month, data from the central bank's bulletin released on Wednesday showed. The value of gold in the central bank's foreign exchange reserves rose to $73.3 billion in February from $70.9 billion in January. The share of gold in the central bank's total reserves was 11.5% as of Feb 28.
Gold prices surged in February, bolstered by safe-haven demand and purchases by central banks, according to the RBI bulletin.
The monthly average price of gold in Mumbai rose to INR 79,079 per 10 grams in January from INR 76,195 per 10 grams in December, the bulletin said, citing data from the India Bullion and Jewellers Association data. In January 2024, the monthly average price of gold in Mumbai was INR 62,322 per 10 grams.
At 1946 IST, the April gold contract on COMEX was $3,037 per ounce, down 0.1% from Tuesday's close. On MCX, the April gold contract was down 0.2% at INR 88,520 per 10 grams. End
US$1 = INR 86.44
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Avishek Dutta
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