National News
RBI bought 6 tonnes of gold and likely sold $ 7 bn worth US treasury secs
The Reserve Bank bought almost six tonnes of gold and likely sold $ 7 billion worth US treasury securities this April in what seems to be its strategy of diversifying its forex reserves management.
The Reserve Bank bought almost six tonnes of gold and likely sold $ 7 billion worth US treasury securities this April in what seems to be its strategy of diversifying its forex reserves management.
The value of India’s – essentially the Reserve Bank of India’s – US treasury securities dipped $ 7.1 billion in April to take the value of outstanding US treasury securities’ (USTs) exposure to $233.5 billion at the end of the month, according to the data released by the US treasury department late on Tuesday.
In comparison, India bought about $ one billion worth of USTs in April of 2023 and the stock of gold was almost flat at 794 tonnes in the same period.
The RBI’s strategy is in line with that of the other major central banks globally who have been accumulating gold and discarding dollar denominated assets as the geopolitical tensions escalate. Foreign central banks have lowered their exposure to the USTs by $30 billion, the data released by the US Treasury department shows.
On the other hand, central banks globally bought a record 290 tonnes of gold in the January-March quarter with Chinese and Turkish central banks accounting for the maximum purchases during the quarter, data from the World Gold Council indicates.
The Reserve Bank has started to accumulate gold regularly from the market since December 2017, but has intensified its pace of accumulating over the past two years amidst rising geopolitical tensions
“We are building up gold reserves, the data is released from time-to-time” said RBI governor Shaktikanta Das at the post policy media conference on April 5. “All aspects while building up the reserves are assessed and then we make a decision.”
Source:ECONOMIC TIMES
BrandBuzz
The Pearl Edit: Thoughtful Women’s Day Gifting by GIVA
Timeless pearl creations from GIVA that honour the quiet strength, elegance, and individuality of modern women.
For generations, pearls have defined timeless elegance — an evergreen classic that transcends trends and seasons. Effortlessly refined, they carry a quiet sophistication that has remained relevant across eras.
Neither fleeting nor ornamental, pearls embody a kind of understated luxury, graceful, enduring, and always in style.
This Women’s Day, GIVA celebrates women who are building, leading, choosing, and redefining life on their own terms. Women who don’t need to be loud to be powerful, because their presence speaks for itself.
In that spirit, pearls make for a meaningful gift. Timeless yet modern, they move effortlessly from everyday moments to milestone celebrations, making them a thoughtful way to honour the women who inspire us, whether it’s a mentor, a friend, a colleague, or even yourself.
Here are some pearl pieces that make for perfect Women’s Day gifts.
Stay With Me Golden Pendant With Link Chain
For the one who wears her heart unapologetically. A radiant pearl drop pendant set in gold-plated 925 silver, designed with an elegant lattice motif that blends timeless romance with modern craftsmanship. From the Barkha Singh x GIVA Glow in Motion collection, this piece celebrates intricate CNC artistry while offering a refined statement for everyday elegance.
Gold Pearl Centred Diamond Earrings
Elegant and timeless, these 18K BIS-hallmarked gold earrings feature a delicate circular motif with a luminous pearl at the centre, accented by sparkling lab-grown diamonds below. Designed for everyday luxury, they blend classic sophistication with modern brilliance, making them a graceful statement for any occasion.
Rose Gold On Mom’s Path Bracelet
A heartfelt rose gold-plated bracelet crafted in 925 silver, featuring a charming baby shoe motif with enamel detailing, a delicate pearl accent, and a subtle “mom” engraving. Thoughtfully designed to celebrate the unbreakable bond between a mother and her child, it makes for a meaningful keepsake.
Anushka Sharma Silver Drops of Pearls Set
Inspired by the hidden beauty of ocean pearls, the Anushka Sharma Silver Drop of Pearl Set captures effortless elegance with a graceful pearl drop and sparkling zircon accents. Crafted in 925 silver, the set includes a delicate pendant and matching earrings designed to add timeless charm to any look.
Rose Gold Glam Drops Necklace
Graceful and statement-making, this rose gold-plated lariat necklace in 925 silver features a central oblong pearl with delicate cascading strands ending in luminous pearls. Elegant yet contemporary, it’s the perfect piece to elevate evening looks and special occasions with effortless glamour.
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