India Becomes World’s Second-Largest Gold Buyer in 2024, Adds 73 Tonnes to Reserves
Date: July 19, 2025By: The Information Media Desk—In a significant global development, India has emerged as the world’s second-largest official gold buyer in 2024, according to the latest report by the World Gold Council (WGC).The Reserve Bank of India (RBI) purchased 73 tonnes of gold last year, second only to Poland, which topped the list with 130 tonnes. This marks a strong return to gold accumulation by central banks amidst global economic uncertainty, currency instability, and rising geopolitical tensions.-
–🇮🇳 India’s Growing Gold AppetiteIndia, traditionally one of the largest consumers of gold for jewelry and investment, is now making strategic moves to strengthen its central reserves. The 73-tonne purchase in 2024 is a significant jump compared to previous years and reflects the RBI’s efforts to diversify its foreign exchange reserves.> 🗨️ “India’s move signals confidence in gold as a safe-haven asset in times of global financial volatility,” said a WGC spokesperson.
—📊 Global Gold Buying Trend in 2024According to the World Gold Council:Poland led the official gold purchases with 130 tonnesIndia followed with 73 tonnesTurkey, China, and Singapore were also among top gold buyersCentral banks worldwide bought over 1,000 tonnes of gold for the second consecutive yearThis trend shows growing skepticism toward traditional currencies like the U.S. dollar, especially among emerging economies.
—🏦 Why Central Banks Are Buying More GoldKey reasons behind this global gold rush:Inflation hedgingCurrency diversificationRising geopolitical tensionsFear of recession and dollar weaknessFor India, gold not only serves as a reserve asset but also resonates culturally with its population, making it a symbol of both security and prosperity.
—🔮 What This Means for IndiaIncreases India’s economic resilienceStrengthens RBI’s balance sheetEnhances trust in India’s monetary stabilityAs India continues to rise as a global economic force, its growing gold reserves are a clear signal of financial preparedness and long-term strategic planning.—
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