New Delhi, 12 July (IANS). According to the latest weekly data released by the Reserve Bank of India (RBI), the country’s gold reserves rose by $ 34.2 million to $ 84.846 billion during the week.
Along with gold, special drawing rights (SDR) with the International Monetary Fund (IMF) also increased by $ 3.9 million to $ 18.868 billion.
Additionally, according to data, India’s reserved reserves in IMF also increased by $ 10.7 million to $ 4.735 billion. This increase in reserves has occurred at a time when domestic and global bullion markets are seeing a huge rise.
The RBI said that India’s foreign exchange reserves stood at $ 699.736 billion in the week ended July 4. In the last reporting week, the total currency reserves rose $ 4.849 billion to $ 702.784 billion. In the end of September 2024, the reserves touched an all -time high level of $ 704.885 billion.
In terms of dollars, Forex assets (FCAs) include the effect of price growth or depreciation of non-American units such as euros, pounds and yen kept in foreign exchange reserves.
On Friday, there was a tremendous increase in gold and silver prices in India and silver prices reached high levels.
According to the India Bullion and Jewelers Association (IBJA), the price of 24 carat gold rose by Rs 465 to Rs 97,511 per 10 grams, which was Rs 97,046 a day earlier. The price of 22 carat gold increased to Rs 89,320 per 10 grams and 18 carat gold to Rs 73,133 per 10 grams.
Meanwhile, silver prices increased by Rs 2,356 in the last 24 hours of the last business day and silver set a new record of Rs 1,10,290 per kg. Silver broke the previous all -time high level of Rs 1,09,550 recorded on 18 June.
Globally, precious metals also saw a boom. Gold increased by 1.01 percent to $ 3,358 an ounce, while silver increased by 2.92 percent to $ 38.40 an ounce.
Analysts are giving new concerns about global economic uncertainty and new concerns about the trend towards assets like gold.
-IANS
SKT/
