World Gold Outlook 2020 report released by World Gold Council placed Indias central bank Reserve Bank of India at ..... position in the largest buyer of sovereign gold abroad

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

“World Gold Outlook 2020” report released by World Gold Council placed India’s central bank Reserve Bank of India at ____ position in the largest buyer of sovereign gold abroad

A	5th
B	10th
C	1st
D	6th

Explanation:

Detailed explanation-1: -With 132.34 metric tonnes (MT) of gold purchase, RBI emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022. Also, RBI was the top gold buyer among its peers in 2020 while it stood third in 2021.

Detailed explanation-2: -World Gold Council Report: India ranked 4th in global gold recycling.

Detailed explanation-3: -World Gold Council Report – 2022. According to the World Gold Council Report, China holds the first position in global gold recycling in 2021 as it recycled 168 tonnes of gold.

Detailed explanation-4: -Turkey central bank remained the largest reported gold buyer this year. It added 31 tonnes in Q3, lifting its gold reserves to 489t (29% of total reserves). Year-to-date it has added 95t to gold reserves.

There is 1 question to complete.