The Reserve Bank of India (RBI) has issued a clarification regarding its gold holdings, stating that the physical stock of gold remains unchanged at 880.52 tonnes. This statement refutes recent media reports that claimed the central bank had sold a portion of its gold reserves.
RBI's Official Statement
In an official release, the RBI noted: 'The Reserve Bank of India has come across reports in certain sections of the media about RBI's sale of gold. The RBI emphasizes that these reports are not correct.' The central bank further explained that the actual volume of its gold holdings is regularly updated and made accessible to the public through its standardized publication channels.
Gold Holdings Disclosure
According to the RBI, the physical stock of gold is disclosed in its Monthly Bulletin, with the latest edition available on the RBI website. 'The physical stock of gold remains unchanged at 880.52 tonnes as on date,' the central bank confirmed. It also cautioned the public against relying on unverified claims regarding its reserve management operations, advising them to depend on official information published by the RBI.
Background of the Speculation
The clarification follows a media report by a news agency claiming that the RBI sold gold worth approximately USD 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 amid pressure on the rupee and a rising import bill. Earlier in the day, Finance Ministry sources told ANI that such a report had been denied by the central bank.
Gold's Share in Forex Reserves
Data from the RBI indicates that the proportion of gold within the overall foreign exchange reserves has experienced an upward trajectory in recent months, rather than a decline. The share of gold in India's foreign exchange reserves rose from 13.92% at the end of September 2025 to 16.70% on March 31, 2026. This share further increased to 16.85% 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 USD 686,064 million and USD 703,308 million, while foreign currency assets remained above USD 550,000 million and gold value figures stood above Rs 113,000 crore.
The RBI's clarification underscores the importance of relying on official data and dismisses speculative reports that could mislead the public and markets. The central bank continues to manage the country's foreign exchange assets with transparency and regularity in disclosures.
