RBI clarifies on gold holdings; Physical stock of gold remains unchanged at 880.52 tons as on date

NEW DELHI: The Reserve Bank of India (RBI) has clarified that its physical stock of gold remains unchanged at 880.52 tons as on date, refuting recent media reports that claimed the central bank sold a portion of its reserves. The clarification comes in response to speculation regarding the management of the country’s foreign exchange assets.

The RBI statement noted “The Reserve Bank of India (RBI) has come across reports in certain sections of the media about RBI’s sale of gold,” The central bank further stated, “The RBI emphasizes that these reports are not correct”.

According to the central bank, the actual volume of its gold holdings is regularly updated and made accessible to the public through its standardized publication channels. “In this context, it is clarified that the physical stock of gold is disclosed by RBI in its Monthly Bulletin,” the central bank said. “The latest edition is available on the RBI website. The physical stock of gold remains unchanged at 880.52 tons as on date.”

A news report published by @Bloomberg states that RBI may have sold gold amounting to approximately USD 12 billion.#PIBFactCheck

This claim is FAKE

According to @RBI, the share of gold in India’s foreign exchange reserves rose from 13.92% at end-September 2025 to 16.70%… pic.twitter.com/eVjxPxEv1i

— PIB Fact Check (@PIBFactCheck) June 3, 2026

Amid these reports, the central bank cautioned against relying on unverified claims regarding its reserve management operations. “Members of public are, therefore, advised to rely on official information published by RBI from time to time in such matters,” the statement noted.

The clarification follows a media report by a news agency claiming that the central bank sold gold worth approximately $12 billion over a two-week period ending May 22, 2026. The report suggested that the alleged sale was an effort to shore up India’s foreign exchange reserves and protect them amid pressure on the rupee and a rising import bill. Earlier in the day, Finance Ministry sources said that such a report had been denied by the central bank.

Data from the central bank showcased that the proportion of gold within the overall foreign exchange reserves experienced an upward trajectory over recent months rather than a decline. According to RBI, the share of gold in India’s foreign exchange reserves rose from 13.92 per cent at end-September 2025 to 16.70 per cent on March 31, 2026.

The central bank data further showed that this share increased to 16.85 per cent as of May 22, 2026. Weekly statistical supplements from the central bank for the period leading up to late May showed total reserves fluctuating between $686,064 million and $703,308 million, while foreign currency assets remained above $550,000 million and gold value figures stood above Rs 1,13,000 crore. (ANI)