Reserve bank of India brings 102 tons of gold back home from Bank of England
The Reserve Bank of India announced on (October 29.2024) to transport additional 102 tons of gold from Bank of England to its secure location in India. Total reserve of gold held by RBI are 855 tones. From 855 tones a reserve kept on Indian soil are 510 tones. There are much reason why RBI has changes his strategy to move its gold to Indian soil. One and the most important is a geopolitical risk. India as part of BRICS will have to ensure stability in its economy in time where currency dips in value, gold typically rises this enable central banks to protect their reserves at time of market volatility. This year in May, India announced that had already moved 100 tons from the UK, which represented the most significant…