Why is RBI buying gold? Reserve Bank of India purchases nearly 13.3 tonnes of gold in Jan-Feb 2024

The RBI has increased gold purchases to diversify reserves, with gold value contributing to a $3 billion rise in forex reserves to $648.5 billion. RBI acquired 13.3 tonnes of gold in early 2024, aiming for diversification and inflation hedging.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Zs46Yrk