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Gold reserves plunge, forex kitty dips to $353.46 bn

India's gold reserves fell sharply by USD 824.2 million as the metal's prices weakened globally, but gains in currency assets limited the dip in overall forex reserves, which were down USD 187.6 million at USD 353.46 billion for the week ended July 31.

Govt may use its gold reserves to reduce CAD, hints Anand Sharma

The Commerce Minister said that only 500 tonnes of gold will be sufficient to cover India’s current account deficit.