In 2024, the Reserve Bank of India expanded its gold reserves by 72.6 tonnes, reaching a total of 876.18 tonnes valued at $66.2 billion. This increase is the highest since 2021 and the second highest since 2017. The central bank’s gold purchases help protect against currency volatility and enhance valuation gains on reserves.
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Indian market is expected to consolidate, mirroring mixed global signals, with Nifty futures closing negatively. Option data indicates a trading range between 24,600 and 25,600.