‌印度黄金储备大挪移：超65%本土存放！

Core Insights - The Reserve Bank of India (RBI) has significantly increased its domestic gold reserves, with over 65% stored locally as of September 2025, nearly doubling from four years ago [1][4] - The total gold reserves of the RBI currently stand at 880 tons, with 576 tons stored domestically, marking a historical high [4] - The strategic shift towards repatriating gold is largely attributed to concerns over the safety of overseas assets following the freezing of Russian assets by Western nations [4][5] Group 1: Gold Repatriation Strategy - The RBI has repatriated nearly 64 tons of gold from overseas in the first six months of the fiscal year starting April 2025, indicating a clear trend towards accelerating gold repatriation [1] - The proportion of gold stored domestically rose from approximately 38% in September 2022 to a record high of 65% by September 2025 [4] - The RBI's actions are seen as a move to enhance direct control over national gold assets and avoid the risk of asset freezes similar to those experienced by Russia [4][5] Group 2: Diversification and De-dollarization - The RBI's strategy aligns with a broader trend of de-dollarization, as the central bank aims to reduce reliance on the US dollar and dollar-denominated assets [5] - Since 2018, India has cumulatively increased its gold holdings by 279.54 tons, reflecting a commitment to raising the gold's share in its reserves [5] - The value of gold in India's foreign exchange reserves increased from 11.70% in March 2025 to 13.92% by September 2025, with plans to further increase this to 20% [5] Group 3: Global Context - The global central bank gold purchases reached 415 tons in the first half of 2025, maintaining a historical high, with emerging market countries like China, Russia, and Turkey accelerating their gold buying [5] - 95% of surveyed central banks expect an increase in global official gold reserves over the next 12 months, highlighting gold's renewed strategic importance as a safe-haven asset amid rising geopolitical risks [5] - As of October 17, 2025, India's foreign exchange reserves totaled $702.3 billion, sufficient to cover over 11 months of import needs, supporting its diversification strategy [6]