India’s gold reserves top $100 billion for first time as global prices soar

India’s gold stash has now crossed $100 billion, for the first time ever, according to the Reserve Bank of India’s latest weekly reserves data released on ￰0￱ jump came in the week ending October 10, when the central bank’s total holdings of gold shot up by $3.595 billion, bringing the full value to $102.365 ￰1￱ here’s the twist: RBI didn’t do much buying at ￰2￱ spike came almost entirely from the metal’s insane global rally, while the country’s overall foreign reserves actually fell by $2.18 billion, settling at $697.784 ￰3￱ gold surging like it’s on rocket fuel, the metal now makes up 14.7% of India’s total reserves, the highest percentage since 1996–97, traders said on Friday.

That’s a big deal for a country that’s been gradually hoarding gold over the past decade, pushing the share from under 7% to nearly 15%. But this year’s rise wasn’t about how much India bought; it was all about ￰4￱ slows purchases while price does the heavy lifting India barely touched the buy button in ￰5￱ RBI added gold in just four out of the first nine months of the year, based on World Gold Council records. That’s a sharp slowdown compared to 2024, when buying happened almost every ￰6￱ January through September this year, India bought only 4 metric tons, while it had picked up 50 tons during the same stretch in ￰7￱ Chacko, head of India research at the World Gold Council, said the rising gold share is “largely driven by valuation gains from the rising gold price.” It’s not about stacking more; it’s also about the price going ￰8￱ nuts it has ￰9￱ futures (GC=F) dropped more than 1% on Friday, settling near $4,250 an ounce, but that was after touching an intraday high above $4,380 earlier in the ￰10￱ with that dip, the week still ended as the metal’s best weekly gain since ￰11￱ Street and fund managers move as miners bleed The gold craze didn’t just stop at central ￰12￱ week, Bank of America’s Fund Managers Survey showed that gold is now the most crowded trade of October, beating even the “long Magnificent Seven” tech ￰13￱ when fund managers were asked about their allocations, 39% had zero exposure, 19% were at 2%, and 16% said they had 4% exposure to the ￰14￱ split positions have traders and funds on ￰15￱ Friday morning, Bank of America analysts doubled down on their position, repeating a “long gold” recommendation and predicting the metal could peak at $6,000 an ounce by ￰16￱ Sachs lifted its end-of-2025 target to $4,900 per ounce, up from $4,300, and JPMorgan expects the metal to reach $6,000 by ￰17￱ not everyone’s ￰18￱ miners, which had been riding the rally hard, saw a serious ￰19￱ NYSE Arca Gold Miners Index took a 6.4% dive on Friday, the biggest drop since ￰20￱ ￰21￱ by 7.4%, Agnico Eagle Mines ￰22￱ 7.2%, and Barrick Mining ￰23￱ 7%.

And all three of those had already logged over 100% gains this year, while gold itself climbed just over 60%. Meanwhile, the pullback has traders at a ￰24￱ Kaeppel, senior research analyst at SentimenTrader, said in a Friday note, “Traders who have been holding a long position in SPDR Gold Trust ETF are now faced with a decision — take profits or let it ride?” Join a premium crypto trading community free for 30 days - normally $100/mo.