You know the old saying, “Another day, another central bank has been repatriating its gold reserves as insurance against a deglobalizing and increasingly volatile world.” At least, it will probably become an old saying soon enough.

India, a key player in the global financial landscape, has recently made a significant move. The Reserve Bank of India [RBI], which had been storing half its 822 tons of gold reserves overseas at the Bank of England, has brought 100 tons of their gold (~$750M) back to India. This decision, the first of its kind since 1991, marks a significant shift in India’s appro