In the last six months of the 2024–25 fiscal year, the Reserve Bank of India (RBI) raised its gold holdings by over 25 tons. The price of gold has increased by 30% over this time. The amount of gold held by the RBI has increased from 854.73 tonnes at the end of September of the previous year to 879.59 tonnes. The RBI bought 57 tons of gold during the preceding fiscal year.

The RBI said in its most recent report that it had 511.99 tonnes of gold in local storage, 348.62 tonnes in safe custody with the Bank for International Settlements (BIS) and the Bank of England, and 18.98 tonnes in gold deposits.

In the first half of the previous fiscal year, the RBI transferred more gold to local vaults. As of September 30, 2024, the amount of gold owned locally has grown from 408 tonnes on March 31, 2024, to 510.46 tonnes. As political and economic unpredictabilities throughout the world increase, the RBI is increasing its gold reserves.

By the end of March 2025, gold’s percentage of total foreign currency reserves had risen from 9.32 percent six months before to 11.70 percent. By the end of March 2025, the overall foreign currency reserves had dropped from $705.78 billion at the end of September 2024 to $668.33 billion. These stockpiles can currently fund imports for 10.5 months.