RBI Buys 8 Tonne Gold During Nov

Mumbai: The Reserve Bank of India (RBI) bought another eight tonnes of gold in November 2024 as Central banks around the world continued their buying spree with a collective purchase of 53 tonne of the precious metal during the month, according to the latest World Gold Council (WGC) report.

The decline in gold prices during November, following the US election, may have provided some central banks with the added impetus to accumulate the precious metal, the report pointed out.

RBI has, like other central banks, been buying gold as a safe-haven asset.