Gold price rally impact: India’s gold reserves cross $100 billion for the first time; share in forex reserves highest since 1996-97

India’s gold reserves have surged past $100 billion for the first time, driven by soaring global prices. Despite the Reserve Bank of India significantly slowing its gold purchases this year, the precious metal now forms its highest proportion of total reserves since 1996-97, a trend bolstered by international central banks diversifying away from the US dollar.