India’s gold reserves have crossed the $100 billion mark for the first time, reaching $102.365 billion in the week ending October 10, 2025.
This historic milestone was achieved primarily due to a dramatic surge in global gold prices rather than increased purchases by the Reserve Bank of India.
Record Valuation and Share in Forex Reserves gold holdings jumped by $3.595 billion to reach $102.365 billion, even as India’s total foreign exchange reserves declined by $2.18 billion to $697.784 billion.
Gold now accounts for 14.7% of India’s total reserves, marking its highest proportion since 1996-97. Over the past decade, gold’s share in India’s forex reserves has nearly doubled, climbing from below 7% to approximately 15%.
Slowdown in RBI Gold Purchase interestingly, this milestone was achieved despite a significant reduction in the RBI’s gold acquisitions this year.
The central bank purchased gold in only four months out of the first nine months of 2025, compared to near-monthly additions in 2024. Total gold procurement from January through September 2025 amounted to just 4 tonnes, a substantial decrease from the 50 tonnes acquired during the same period in 2024.
Driven by Price Rally the value surge is largely attributed to valuation gains from rising global gold prices, which have surged approximately 65% in 2025. Spot gold recently surged past $4,300 per ounce, driven by heightened geopolitical risks, safe-haven demand, and expectations around US interest rates.
As of October 10, 2025, India’s physical gold holdings stood at approximately 880 tonnes. Strategic SignificanceCentral banks globally, including the RBI, continue to accumulate gold as part of diversification away from the US dollar, a trend driven by heightened geopolitical risks, sanctions pressures, and de-dollarization efforts. RBI Governor Sanjay Malhotra noted that the gold rally has strengthened reserves, providing coverage for 11 months of imports.
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