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

India’s gold reserves have surpassed the $100 billion mark for the first time in history, according to the latest foreign exchange reserves data released by the Reserve Bank of India (RBI). The milestone comes amid a global rally in gold prices, even as the central bank slowed its purchases this year.

Key Highlights

• India’s gold holdings rose by $3.595 billion during the week ending October 10, 2025, reaching $102.365 billion, as per RBI data.
• This is the highest level since 1996–97, marking a major boost to the country’s reserve position.
• The share of gold in India’s total reserves has now climbed to 14.7%, up from less than 7% a decade ago.
• The surge reflects both steady accumulation by the RBI and a sharp increase in global bullion prices.

Global Context

• Geopolitical uncertainties, de-dollarisation trends, and sanctions pressures have driven central banks worldwide to diversify their reserves away from the US dollar.
• Gold has emerged as a preferred safe-haven asset in this environment, leading to record central bank demand.

India’s Position

• India is the world’s second-largest consumer of gold, relying heavily on imports to meet domestic demand.
• The country’s gross foreign exchange reserves consist of:
  • Foreign currency assets (FCA) held by the RBI
  • Gold reserves
  • Special Drawing Rights (SDRs) of the Government of India
• India’s Reserve Position in the IMF is not included in the forex reserves since it is not immediately available on demand.

Valuation Method

• RBI compiles and disseminates forex reserve data based on actual balances in its records.
• Foreign currency assets are converted into US dollars using New York closing exchange rates.
• Gold is valued close to international market prices, while SDRs are converted using IMF-released rates.