RBI repatriates 102 tonnes of gold ahead of Dhanteras, securing reserves on Indian soil

In a strategic move, the Reserve Bank of India (RBI) has transferred 102 tonnes of gold from the Bank of England’s vaults to secure facilities within India, just ahead of Dhanteras. The RBI’s gold reserves now total 855 tonnes, with 510.5 tonnes held domestically—a notable increase aimed at enhancing asset security amid rising global tensions.

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The repatriation reflects a shift in India’s strategy, as geopolitical risks prompt the RBI to reassess the safety of foreign-held reserves. Since September 2022, India has relocated 214 tonnes of gold, reinforcing its preference to keep these valuable assets closer to home. Government sources highlighted that domestic storage of gold reserves provides added protection against potential global disruptions.

This latest transfer was executed with heightened security and confidentiality, involving specialized aircraft and strict logistics, underlining the government’s commitment to safeguarding national assets. Earlier in May, the RBI brought back 100 tonnes from the UK, marking India’s largest repatriation effort since the 1990s.

At present, 324 tonnes remain under the custodianship of the Bank of England and the Bank for International Settlements, known for their secure bullion facilities in London. Gold now represents 9.3% of India’s foreign reserves, up from 8.1% in March, with prices in Mumbai at ₹78,745 per 10 grams amid forecasts of further appreciation as investors seek stability amidst global uncertainties.