RBI Refutes Gold Sale Reports, Says Reserves Unchanged at 880.52 Tonnes

MUMBAI, Jun 3: The Reserve Bank of India (RBI) on Wednesday dismissed reports suggesting it had sold a portion of its gold reserves, clarifying that the country’s physical gold holdings remain unchanged at 880.52 tonnes.

The clarification came in response to media reports claiming that the RBI may have sold gold worth around USD 12 billion to protect India’s foreign exchange reserves from the impact of the ongoing conflict in West Asia.

“The RBI emphasises that these reports are not correct,” the central bank said in a statement.

The RBI advised the public to rely only on official information released by the central bank on such matters.

Meanwhile, the Press Information Bureau (PIB) also issued a fact-check, citing RBI data to refute the reports.

According to the RBI, the share of gold in India’s foreign exchange reserves increased from 13.92 per cent at the end of September 2025 to 16.70 per cent on March 31, 2026. The share further rose to 16.85 per cent as of May 22, 2026.

The RBI’s clarification sought to dispel speculation over any reduction in the country’s gold reserves amid global economic uncertainties. (Agencies)