RBI paper denies large gold purchase drove up market prices


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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