India’s Gold Reserves Cross $100 Billion for the First Time

India’s gold reserves rose to $102.365 billion as of October 10, 2025, according to RBI’s weekly data released October 11 and reported October 17.
This marks the first time in history India’s gold reserves have exceeded $100 billion.
The increase was due primarily to a 65% rise in global gold prices in 2025, not major new RBI purchases.
Total forex reserves declined by $2.18 billion to $697.784 billion in the same week.
Gold now represents 14.7% of total forex reserves, the highest share since 1996-97.

Gold prices crossed $4,300 per ounce in 2025, pushing up the value of existing holdings.
RBI bought gold in only four of the first nine months of 2025, totaling 4 tonnes, down from 50 tonnes in the same period in 2024.
“The share of gold in India’s forex reserves has increased significantly, largely driven by valuation gains from the rising gold price,” said Kavita Chacko, Research Head for India at the World Gold Council.

Gold reserves grew from $54 billion in March 2021 to $102.365 billion in October 2025.
Gold’s share of forex reserves rose from 8.1% in 2021 to 14.7% in 2025.
RBI holds 855 tonnes of gold: 510 tonnes in India, 324 tonnes at the Bank of England, and 21 tonnes at the BIS.
Central banks worldwide have been net buyers of gold for 14 straight years, amid de-dollarisation and geopolitical tensions.

Gold is used as a hedge against inflation and currency volatility.
The increase reflects India’s reserve diversification strategy, similar to trends in other emerging economies.
A drop in foreign currency assets by $5.6 billion partly offset the gold valuation gain.

India is the world’s second-largest gold consumer with an estimated 25,000 tonnes of household gold.
Rising gold prices were influenced by US sanctions on Russia, de-dollarisation trends, and expected Fed rate cuts in 2025.
The RBI has added 202 tonnes of gold in the past five years, steadily expanding its gold holdings.