印度黄金储备大挪移：超65%本土存放！

Core Insights - The Reserve Bank of India (RBI) is accelerating the repatriation of gold, with 576 tons stored domestically by the end of September, driven by geopolitical concerns over the safety of overseas assets [2][5][6] - The RBI's strategy reflects a significant shift, with over 65% of its gold reserves now held domestically, nearly doubling from four years ago [2][5] - The move is largely attributed to the freezing of Russian assets by Western nations following the Ukraine conflict, raising global concerns about the safety of foreign-held assets [6] Group 1: Gold Reserves and Storage - As of now, the RBI's total gold reserves amount to 880 tons, with 576 tons stored locally, marking a historical high [5] - In September 2022, only about 38% of India's gold reserves were stored domestically, indicating a substantial increase in local storage [5] - The RBI previously entrusted some of its gold reserves to the Bank of England and the Bank for International Settlements for safekeeping [5] Group 2: Strategic Implications - The RBI's gold repatriation is 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 [6] - India's Finance Minister emphasized that this initiative is a "thoughtful move" to diversify foreign exchange reserves [6] - The RBI aims to increase the proportion of gold in its reserves from 13.92% as of September 2025 to 20% in the future, indicating a continued trend of gold accumulation [7] 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 also increasing their gold reserves [7] - 95% of surveyed central banks expect continued growth in official gold reserves over the next 12 months, reflecting a renewed strategic importance of gold amid rising geopolitical risks [7][8] - India's foreign exchange reserves totaled $702.3 billion as of October 17, 2025, ranking fourth globally and providing a solid foundation for its reserve diversification strategy [7]