India buys 200 tonnes of IMF gold

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The Reserve Bank of India (RBI) concluded the purchase of 200 metric tonnes of gold from the International Monetary Fund (IMF) on Tuesday. The country now holds an estimated 6% of its reserves in gold, the purchase having boosted its holdings from 357.7 tonnes to 557.7 tonnes.

The IMF is a de facto signatory to the third Central Bank Gold Agreement which caps annual gold sales from all members at 400 tonnes. This transaction, which has generated $6.7 billion (SDR 4.2 billion), represents just un

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