India's gold reserves near $115.8bn, now 17% of foreign exchange
Business
Central banks worldwide are snapping up gold, and India's leading the charge.
In just two years, India's gold stash has nearly doubled to $115.8 billion, thanks to both big buys by the Reserve Bank of India and record prices in 2026.
Gold now makes up 17% of India's foreign exchange reserves, up from 12% last year.
Global hoarding follows Russia's 2022 invasion
It all kicked off after Russia invaded Ukraine in 2022, making countries rethink how safe their money really is.
Since then, emerging economies like India have been piling on gold: India's official reserves jumped from about 558 tons in 2015 to over 880 tons by early 2026.
And it's not just India: China, Poland, Turkey, and several others have also boosted their gold holdings as a safety net during these unpredictable times.