Gold Reserves Current Affairs - 2020

MECL Starts exploring the Kolar Gold Fields in Karnataka after 16 years

The Bharat Gold Mines Limited (BGML) in the Kolar Gold Field (KGF) again hopeful  for its revival in last 16 years after the Union Minister for Coal, Mines and Parliamentary Affairs Pralhad Joshi directed the Mineral Exploration Corporation Limited (MECL) to start exploring the gold fields. Background The Kolar Gold mine fields are located some Read More…

World Gold Council Report: 37% of Indian Women never bought gold

On May 27, 2020, the World Gold Council released its report on Retail Gold Insights: India Jewellery Report. According to the report, around 37% of Indian women never bought jewellery. Highlights The report says that gold jewellery was the second most popular item among “Fashion and Lifestyle” shoppers next to clothes and silk sarees. Around Read More…

World Gold Council report: RBI ranks 6th in buying gold abroad

The World Gold Council (WGC) recently released its report, “World Gold Outlook 2020”. The report says that gold has performed the best since 2010 in 2019. In 2019, the gold trade in USD has increased by 18.4% as compared to 2010. Highlights: India According to the WGC, RBI (Reserve Bank of India) currently holds 625.2 Read More…

India’s forex reserves at new life-time high of $430.57 bn

According to latest Reserve Bank of India (RBI) data, India’s foreign exchange (forex) reserves surged to new life-time high of US $430.572 billion in week to August 9, 2019. It was on account of rise in foreign currency assets, the major component of the overall reserves. In the previous reporting week ended on August 2, Read More…

India’s Forex reserves rise to a record high of $426.42 billion

As per the data revealed by Reserve Bank of India (RBI), India’s foreign exchange (Forex) reserve rose to a life-time high of $426.42 billion (in week to 21 June 2019) after it surged by $4.215 billion boosted by higher foreign portfolio investments (FPI) and a stable rupee. Key Highlights Background: Earlier, the Forex reserves had Read More…