India’s central bank has significantly increased its gold reserves in June, adding over nine tons, which marks the largest addition in nearly two years according to World Gold Council analyst Krishan Gopaul. This brings India’s total gold reserves to 841 tons, reflecting a 37-ton increase in 2024. The substantial purchase aligns with a broader trend of central banks accumulating gold due to heightened geopolitical and financial risks. This move by India, a major gold buyer alongside China and Turkey, contributes to the ongoing rally in gold prices, which reached record highs in May. The trend is expected to continue, with about 20 central banks planning to increase their gold holdings in the coming year.