India has joined countries like Russia and China buying gold in an attempt to diversify reserves away from the US Dollar:
"The Reserve Bank of India has jumped on the gold bandwagon. Since December 2017, the Indian central bank has added 50.4 tons of gold to its reserves.
India bought 8.2 tons of gold in January and February of this year and analysts project that pace to pick up.
India’s gold reserves currently stand at a record high of almost 609 tons, according to data from the IMF."
Related trading tickers: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ)
