According to the latest data from World Gold
Council (WGC), India has marginally increased its gold holding in February
2019. India’s gold holding increased from 607 tonnes in January to 608.7 tonnes
in February. Gold holding is a central banks’ total holding of gold as a
percentage of their foreign exchange reserves.
Early in March, a recent report by World Gold
Council had ranked India 11th in terms of gold holding. Among countries, India
ranked 10th in terms of gold holding. USA ranked first followed by
Germany, International Monetary Fund (IMF), Italy and France.
Among Asian countries, Mainland China (7) and
Japan (9) ranked better than India. Pakistan ranked 45th while Sri
Lanka and Bangladesh ranked 63rd and 66th respectively.
The World Gold Council is the market development
organisation for the gold industry. It is an association of world’s leading