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India is getting the heel out of dodge

[highper]

India central bank moves 100 tons of gold from UK to domestic vaults (31 May 2024).

May 31, 2024 9:46 am by CWR

 

Reserve Bank of India has moved 100 tonnes of gold from the UK to its vaults in India, marking a significant shift in gold storage. The transfer was for logistical and storage diversification reasons.
 

NEW DELHI: Reserve Bank of India has moved a little over 100 tonnes of gold from the UK to its vaults in the country, marking the first time at least since early 1991, when precious metal at this scale has been added to the stock held locally.
A similar quantity of gold may be headed into the country again in the coming months with official sources telling TOI that the transfer to locations within the country was for logistical reasons as also for diversified storage.

 

timesofindia.indiatimes.com/business/india-business/rbi-moves-100-tonnes-gold-from-uk-to-its-vaults-in-india/articleshow/110574276.cms
www.msn.com/en-gb/money/other/india-cenbank-moves-100-tons-of-gold-from-uk-to-domestic-vaults-toi-reports/ar-BB1nmCvu

[rockport1]

highper, this is interesting.  If India was comfortable with the system, they shouldn't have to repatriate their gold. It's far easier to transact from the vaults in England.  Something is afoot....