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India's central bank significantly boosted its gold reserves, part of a global trend driven by uncertainty.
The Reserve Bank of India added 27 tonnes of gold to its reserves in October, marking a five-fold increase in gold purchases compared to the same period in 2023.
This brings India's total purchases to 77 tonnes for the year.
Emerging market central banks, including India, Turkey, and Poland, have led global gold buying, accounting for 60% of total purchases.
Turkey added 72 tonnes and Poland added 69 tonnes to their reserves this year, reflecting a trend driven by global uncertainty and geopolitical tensions.
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El banco central de la India impulsó significativamente sus reservas de oro, parte de una tendencia mundial impulsada por la incertidumbre.