|
The Reserve Bank of India (RBI) on Wednesday clarified that it has not sold any gold, rejecting media reports that suggested the central bank had offloaded part of its bullion reserves. In a statement, the RBI said reports in certain sections of the media regarding the sale of gold by the central bank were not correct. It added that its physical stock of gold remains unchanged at 880.52 tonnes. The physical stock of gold is disclosed by RBI in its Monthly Bulletin, and the physical stock of gold remains unchanged at 880.52 tonnes as on date, the central bank said. The clarification follows media reports that suggested the RBI may have sold around $12 billion worth of gold reserves during the two weeks ended 22 May 2026 to protect its foreign-currency assets amid rising oil prices, geopolitical tensions in West Asia and pressure on the rupee. The RBI's statement effectively refutes those reports, reaffirming that there has been no change in its physical gold holdings. India's gold reserves have steadily increased in recent years as the RBI diversified its foreign exchange reserves. According to the central bank's latest reserve management data, RBI held 880.52 tonnes of gold as of end-March 2026, with a significant portion stored domestically. The central bank advised the public to rely on official information published by the RBI for matters relating to its reserve holdings. Powered by Capital Market - Live News
|