RBI paper denies large gold purchase drove up market prices

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India's purchase of 200 tonnes of gold from the International Monetary Fund did not have any significant impact on the gold price in markets, according to a Reserve Bank of India paper, published on Tuesday (October 11).

A Karunagaran, the paper's author, examines whether India's purchase of gold was a reserve management strategy or whether it affected the gold price trend. The author says that while a number of investors, including central banks, augmented their reserves of gold in the wake of

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