The Reserve Bank of India recently brought a little over 100 tons of gold home.
And more gold may be heading back to India in the near future. The India n central bank repatriated the gold from vaults in the UK. According to a Times of India report, moving 100 tons of gold over 4,000 miles was a massive logistical exercise, requiring months of planning and precise execution. Transporting 100 tons of gold required specialized aircraft and detailed security arrangements.
” Invesco head of official institutions Rod Ringrow told Reuters this reflects a widely held view. ‘If it’s my gold then I want it in my country,’ has been the mantra we have seen in the last year or so.” There has been speculation that countries have been moving gold and other assets out of the U.S. in the wake of economic sanctions on Russia, but it’s been difficult to confirm because the Federal Reserve will not release information on the amount of gold in its vaults.
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