RBI Denies Selling $12 Billion Worth of Gold, Clarifies Gold Stock Holdings

The Reserve Bank of India (RBI) has clarified that speculation over the central bank’s sale of gold reserves is not correct, with the physical stock of gold remaining unchanged at 880.52 tonnes as of the latest available data.

RBI Denies Selling Gold Worth $12 Billion

The RBI’s clarification comes after reports suggested that the central bank may have sold around $12 billion worth of gold to shield its foreign-currency reserves from the impact of the war in West Asia.

The RBI emphasized that these reports are not correct and advised the public to rely on official information published by the RBI from time to time in such matters.

Gold Stock Holdings Disclosed in Monthly Bulletin

The RBI’s Monthly Bulletin discloses the physical stock of gold, which remains unchanged at 880.52 tonnes as of the latest available data.

Market Impact and Details

• The RBI’s share of gold in India’s foreign exchange reserves rose from 13.92% at end-September 2025 to 16.70% on March 31, 2026, and further to 16.85% as of May 22, 2026.
• According to Bloomberg, the RBI had likely sold gold reserves worth about $12 billion in the two weeks through May 22, while buying $7.5 billion of foreign-currency assets.
• The RBI held about 77% of its gold locally, up from 66% in September, according to the latest data up to the end of March.

Key Takeaways

• The RBI has denied selling gold worth $12 billion, with the physical stock of gold remaining unchanged at 880.52 tonnes.
• The RBI’s share of gold in India’s foreign exchange reserves has increased over the past few months.
• The RBI’s gold holdings have shifted from 66% to 77% locally, up from September.

FAQs

What is the RBI’s stance on gold sale reports?

The RBI has clarified that speculation over the central bank’s sale of gold reserves is not correct.

How has the RBI’s gold holdings changed over time?

The RBI’s share of gold in India’s foreign exchange reserves has increased over the past few months, rising from 13.92% at end-September 2025 to 16.70% on March 31, 2026, and further to 16.85% as of May 22, 2026.

What is the RBI’s gold holdings composition?

The RBI held about 77% of its gold locally, up from 66% in September, according to the latest data up to the end of March.

Conclusion

The RBI’s clarification on gold stock holdings has put to rest speculation over the central bank’s sale of gold reserves. The RBI’s focus on maintaining a stable foreign exchange reserve and managing inflation expectations is likely to continue, with the central bank’s decision on interest rates expected to be announced on June 5.

Investors are advised to keep a close eye on the RBI’s future moves and consider consulting certified experts before making any investment decisions.