# India cenbank moves 100 tons of gold from UK to domestic vaults, TOI reports
Author:  Pal Sinha,Barnali
Author URL: https://fintechherald.com/author/pal-sinha-barnali
Published: 2024-05-31
Category: Headlines
Category URL: https://fintechherald.com/category/headlines
Meta Title: India Central Bank's Gold Move from UK to Domestic
Meta Description: The Reserve Bank of India has shifted over 100 metric tons of gold from the UK to its domestic vaults, with more expected to arrive soon. Discover why central
URL: https://fintechherald.com/india-cenbank-moves-100-tons-of-gold-from-uk-to-domestic-vaults-toi-reports

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## India cenbank moves 100 tons of gold from UK to domestic vaults, TOI reports   BENGALURU (Reuters) – India’s central bank has moved a little more than 100 metric tons of gold from the UK to its domestic vaults, the Times of India newspaper reported on Friday, citing sources.    A similar quantity of the precious metal might be coming to the country in the coming months, the report said, adding that the move was for logistical reasons and diversified storage.    The Reserve Bank of India held 822.10 tons of gold at March-end, of which 408.31 tons were held domestically.    Central banks globally have been increasing reserves held in gold, often seen as a hedge against currency volatility and geopolitical risks.    The RBI decided to move gold to India as the stock was building up overseas, the TOI reported.    The RBI did not immediately respond to a Reuters request for comment.        (Reporting by Sethuraman NR in Bengaluru; Editing by Rashmi Aich)


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