Friday, April 30, 2010

GOLD; 10th Largest Stake in World: INDIA

NEW DELHI: The Central government today said India has become the 10th largest holder of gold in the world after it purchased 200 tonnes of the precious metal from the International Monetary Fund (IMF) last year.

Acc. to the World Gold Council, India is ranking 13th in the world in terms of official gold holding in March 2008 and March 2009, Minister of State for Finance 'Namo Narain Meena' said in a written reply to the Lok Sabha.
In November 2009, the RBI purchased 200 tonnes of gold from IMF at an estimated cost of USD 6.7 billion.

Meena said "With the purchase of 200 metric tonnes of gold by the Reserve Bank of India from the International Monetary Fund under the IMF's limited gold sales programme, India's rank had increased to 10th position in March 2010, with official gold holding of 557.6 metric tonnes" .
at 4/30/2010 06:35:00 PM

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