2022
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Detailed explanation-1: -Also, RBI was the top gold buyer among its peers in 2020 while it stood third in 2021. In 2020, it bought 41.68 MT of gold while in 2021 and 2022 (till September end) it bought 77.5 MT and 31.25 MT respectively.
Detailed explanation-2: -In 2021, the RBI emerged as the second largest buyer of gold in the world second only to the Central Bank of Thailand which bought 90 metric tonnes of gold. RBI purchased 77.5 metric tonnes in 2021.
Detailed explanation-3: -The largest buyer, the Central Bank of Thailand, bought 90 metric tonnes of gold, while the RBI bought 77.5 metric tonnes, bringing the RBI’s total gold reserve to 754.1 tonnes at the end of December 2021.
Detailed explanation-4: -When it comes to gold buying, the Reserve Bank of India (RBI) emerged as the second-largest buyer of yellow metal among the world’s Central Banks in 2021. As per Goldhub, India’s official gold reserves is the ninth-largest in the world.
Detailed explanation-5: -The majority of the central bank buying in 2022 came from emerging markets, with the Central Bank of Turkey the largest buyer at a record 542 tons. China, India, Egypt, Qatar, Iraq, the UAE and Oman all significantly boosted their gold reserves over the year.