India following 'passive policy' on gold

Reserve Bank of India governor, Yaga Venugopal Reddy, said on Tuesday 6 December that the federal government and the Reserve Bank of India (RBI) have been following a "passive policy" on its gold holdings.

"So far the government and the RBI (have) been following a passive gold policy," he told reporters, when asked if the central bank planned to increase the share of gold holdings in its official foreign exchange reserves.

His comments come on a day when gold jumped to its highest in 24 years

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