Gold Reserves: You will be surprised to know the weight and price of a ‘brick’ of RBI gold

News India Live, Digital Desk: Gold Reserves: Whenever there is talk of a huge gold reserves of the Reserve Bank of India (RBI), a picture of a very large and safe vault filled with golden bricks shining in our mind is made. But have you ever thought that how much is the weight of every gold brick kept in this treasure and what will be its price in today’s time? Let’s expose this golden secret today.

How much is the weight of a gold brick?

The gold brick that RBI uses follows international standards, also known as ‘Good delivery bar’. According to London Bullion Market Association (LBMA) standards, the weight of one such gold brick 12.5 kg (Ie 12,500 grams) around. This is equal to 400 troy ounces. In terms of purity, this gold ranges from 99.5% to 99.99%.

And price? The senses will fly away!

Now come on the most interesting question – what is its price? Suppose the price of gold today ₹ 73,000 per 10 grams Is. So the price of a gold brick of 12.5 kg will be something like this:

12,500 g / 10 = 1250
1250 * ₹ 73,000 = ₹ 9,12,50,000

Yes, you read it right! The price of a gold brick of RBI is according to today’s price More than Rs 9 crore it occurs.

Why is this gold so important?

These gold bricks are not just precious pieces of metal, but these are guarantees of economic security of the country. The RBI uses this huge gold reserves (which exceeded 822 MT till March 2024) as a security shield to stability to the country’s economy, strengthen foreign exchange reserves, and at the time of any economic crisis.

Therefore, the next time you hear about RBI’s gold reserves, remember that it is not just crores of assets, but a strong pillar of India’s economic strength.

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