India&rsquo;s gold reserves rose by $342 million this week, reaching a total of $84.846 billion, according to the Reserve Bank of India&rsquo;s latest data. The gain comes amid a strong global rally in precious metals.
In addition to gold, the country&rsquo;s Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose by $39 million, now standing at $18.868 billion. India&rsquo;s reserve position with the IMF also saw an increase of $107 million, taking it to $4.735 billion.
India&rsquo;s total foreign exchange reserves now stand at $699.736 billion for the week ending July 4. The previous week had seen a notable increase of $4.849 billion, bringing reserves to $702.784 billion. The highest-ever level was $704.885 billion recorded at the end of September 2024.
Foreign currency assets expressed in US dollars also reflect valuation changes in non-dollar assets like the euro, pound, and yen held in the reserves.
Meanwhile, domestic bullion markets are witnessing sharp price surges. On Friday, gold and silver prices in India jumped, with silver hitting an all-time high.
According to the India Bullion and Jewellers Association (IBJA), 24-carat gold rose by ₹465 to ₹97,511 per 10 grams. The 22-carat variant reached ₹89,320 per 10 grams, while 18-carat gold stood at ₹73,133 per 10 grams.
Silver surged ₹2,356 in a single day to ₹1,10,290 per kilogram, surpassing the previous record of ₹1,09,550 set on June 18.
On the global front, gold prices climbed 1.01 percent to $3,358 per ounce, and silver jumped 2.92 percent to $38.40 per ounce. Analysts attribute the rally to increased demand for safe-haven assets amid global economic uncertainty and renewed fears over trade-related tensions. [Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed]

India’s gold reserves rose by $342 million

India’s gold and forex reserves see sharp rise amid global economic uncertainty and bullion rally

India’s Gold Reserves Rise $342M, Forex Nears $700B

India’s gold and forex reserves see sharp rise amid global economic uncertainty and bullion rally

July 12, 2025 | 01:18 IST