Category : Ranks & Reports
According to World Gold Council(WGC) report title “World Gold Outlook 2020”, Reserve Bank of India (RBI) has been ranked 6th in the largest buyer of sovereign gold abroad. RBI purchased 25.2 tonnes in first 10 months of 2019 to hedge government’s sovereign gold bond issue. RBI (Reserve Bank of India) currently holds 625.2 tonnes of gold, forming 6.6% of its forex reserves. The central banks of China, Russia, Kazakhstan, Turkey, Poland bought more than India in 2019. In 2019, Uzbekistan and Venezuela sold 16.6 tonnes and 30.3 tonnes of gold. The performance of gold in the market in 2019 was best Since 2010. It rises by 18.4% in United States dollar (USD)terms in 2019. |
Key points of World Gold Council(WGC) report:
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