RBI joins peers to buy gold insurance as US-China trade war escalates

So far, China and Russia are the most aggressive buyers, but Reserve Bank of India (RBI) is now the 10th largest gold reserve holder in the world, as of June, according to IMF

As US-China trade negotiations drag the world to uncertain territory, central banks around the world are readjusting their foreign exchange reserve mix in favour of gold for safety and strategic reasons.

All countries have their own unique reasons, but central banks, mandated with the financial stability of their countries, are finding reassurance in the world’s oldest insurance against uncertainties — gold.

So far, China and Russia have been the most aggressive buyers, but the Reserve Bank of India (RBI) is now the tenth-largest gold reserve holder in the world, as of June, according to the International Monetary Fund (IMF).

In 2009, India surprised