India is making significant strides in repatriating its gold reserves, with the Reserve Bank of India (RBI) reporting that 77% of the country’s 880.52 metric tonnes of gold is now stored domestically. This marks a rapid increase from just 37% in March 2023, as India brought back 104.23 tonnes in just six months. The shift is largely driven by a changing global risk environment, particularly following events like the Russia-Ukraine war, which have raised concerns about the safety of assets held abroad. As geopolitical tensions rise, many countries, including India, are reassessing their trust in foreign custodians such as the Bank of England and the Federal Reserve Bank of New York, which historically have been seen as secure. India’s gold now represents 16.7% of its total foreign exchange reserves, reflecting a strategic pivot towards greater control over national assets. This trend is not unique to India; nations like France and Germany are also adjusting their gold storage strategies, indicating a broader reassessment of what constitutes safety in global finance. The evolving landscape suggests that countries are increasingly prioritizing physical proximity to their gold reserves, redefining the traditional notion of security in gold custody.