RBI Denies Gold Sale Reports, Says Physical Gold Stock Remains Unchanged

The Reserve Bank of India has clarified that reports suggesting gold sales by the central bank are not correct. The clarification comes amid discussions around the central bank's gold holdings and reserve management.

The clarification follows a Bloomberg report that, citing sources, claimed the RBI may have sold gold worth around $12 billion. The report linked the alleged sale to efforts aimed at supporting India’s foreign exchange reserves, based on reserve data movements and valuation changes observed during the period.

RBI Denies Reports of Gold Sale

RBI said the reports claiming that the central bank had sold gold were incorrect. It added that details regarding its physical gold holdings are disclosed through its Monthly Bulletin, which is available on the RBI website.

Clarifying its position, RBI said, “The physical stock of gold remains unchanged at 880.52 tonnes as on date.” The central bank also advised the public to rely on official information published by the RBI from time to time on such matters.

The claim was also flagged by PIB Fact Check, which termed it false. Citing RBI data, it noted that the share of gold in India’s foreign exchange reserves rose from 13.92 per cent at the end of September 2025 to 16.70 per cent as of March 31, 2026, and further to 16.85 per cent as of May 22, 2026.

What Bloomberg Said Earlier About RBI Gold Holdings

Earlier, a Bloomberg report cited an analysis by Abhishek Gupta of Bloomberg Economics, which estimated that the RBI may have sold around $12 billion worth of gold during the two weeks ended May 22. According to the analysis, part of the proceeds may have been used to increase the country’s foreign exchange reserves by about $7.5 billion.

The report also noted a decline in the value of RBI’s gold holdings during the period despite higher import duties on the precious metal, which Gupta said indicated a possible sale of gold.