World’s Central banks stockpile gold amid global risks

New Delhi

Central banks around the world, including India's Reserve Bank, are buying more gold to protect their economies from rising uncertainty. Between 2009 and 2024, global gold reserves rose from 26,000 tonnes to 32,000 tonnes, growing steadily each year, according to the World Gold Council.

India has increased gold’s share in its foreign exchange reserves from 6.9% in 2009 to 11.4% today. This steady rise shows India's growing interest in gold, especially since 2017.

Other countries — like Russia, Egypt, Argentina, Poland, and Libya — have also increased their gold reserves. In some cases, gold's share in their total reserves has gone up sharply, showing a global shift toward gold amid inflation, currency changes, and political tensions.

While new countries are adding gold, traditional economic powers like the U.S., Germany, France, and Switzerland have mostly kept their gold reserves unchanged. The U.S. still holds the most gold at 8,133 tonnes. But overall, the top 10 gold-holding nations now control 76% of global reserves, down from 81% in 2009.

China, like India, has been buying more gold, especially since 2014. Experts say this shows countries are trying to be more financially independent and less dependent on Western monetary systems.

With rising global tension and pressure on traditional finance, central banks are turning to gold as a safe and trusted asset. Gold is now seen not just as a metal but as a key part of a country’s long-term financial strength and independence.