RBI gold reserves steady at 880.52 tonnes, denies sale reports
Synopsis
The RBI has publicly pushed back against a Bloomberg report suggesting it sold $12 billion of gold to defend the rupee. The central bank insists its physical gold stock is intact at 880.52 tonnes — a rare, direct rebuttal that signals how sensitive reserve-composition narratives have become amid West Asia tensions and currency stress.
Key Takeaways
The RBI said its physical gold stock remains unchanged at 880.52 tonnes as of 3 June .
The clarification came after a Bloomberg report claimed an estimated $12 billion gold sale in the two weeks to 22 May .
The same report cited $7.5 billion in foreign-currency asset purchases over the period.
The rupee hit a record low on 20 May but has since outperformed most Asian peers.
The RBI urged the public to rely only on its Monthly Bulletin for reserve data.
The Reserve Bank of India (RBI) on Wednesday, 3 June, clarified that its physical stock of gold remains unchanged at 880.52 tonnes, firmly dismissing media reports that suggested the central bank had offloaded part of its bullion reserves. The clarification, issued from Mumbai, comes amid heightened scrutiny of India's foreign exchange management during a period of global currency volatility.
What the RBI said
In an official statement, the central bank acknowledged the circulating reports and termed them inaccurate. ‘The Reserve Bank of India (RBI) has come across reports in certain sections of the media about RBI's sale of gold. The RBI emphasises that these reports are not correct,' the statement read.
The RBI further noted that its gold holdings are transparently disclosed in its Monthly Bulletin published on the central bank's official website. ‘In this context, it is clarified that the physical stock of gold is disclosed by RBI in its Monthly Bulletin,' it added.
Public advisory issued
The central bank urged citizens to depend only on official communication for matters relating to reserves. ‘Members of public are, therefore, advised to rely on official information published by RBI from time to time in such matters,' the RBI explained.
The report that triggered the clarification
The denial followed a Bloomberg report which claimed the RBI may have trimmed part of its gold holdings to shield foreign-currency reserves from the fallout of the ongoing conflict in West Asia. According to that report, the central bank likely sold gold worth around $12 billion during the two weeks ending 22 May, while purchasing $7.5 billion in foreign-currency assets.
Rupee context
The same report suggested that the RBI's interventions in the foreign exchange market appeared to have cushioned the rupee, helping the Indian currency outperform most Asian peers since 20 May, when it touched a record low. The central bank's latest clarification, however, reframes that narrative — pinning the rupee's relative resilience on dollar-leg interventions rather than any gold drawdown.
What's next
The next Monthly Bulletin will be closely watched by markets for granular disclosures on reserve composition. With West Asia tensions still elevated and FII flows uneven, the central bank's reserve management posture is likely to remain under the analyst lens in coming weeks.
Point of View
Particularly when West Asia risk is already feeding into commodity and currency flows. The deeper question the clarification doesn't fully address: if gold tonnage is intact, what explains the valuation swings in the reported reserve data that fed the Bloomberg story? Until the next Monthly Bulletin closes that gap, the market will keep guessing.
NationPress
9 Aug 2026
Frequently Asked Questions
How much gold does the RBI hold?
The Reserve Bank of India's physical stock of gold stands at 880.52 tonnes, and the central bank confirmed on 3 June that this figure remains unchanged. The holding is disclosed in the RBI's Monthly Bulletin.
Why did the RBI issue a clarification on its gold reserves?
The clarification followed a Bloomberg report suggesting the RBI may have sold around $12 billion worth of gold in the two weeks ending 22 May to protect foreign-currency reserves amid the West Asia conflict. The RBI termed these reports incorrect.
Did the RBI's interventions affect the rupee?
According to the Bloomberg report, the RBI's foreign exchange market interventions helped the rupee outperform most Asian peers after it hit a record low on 20 May. The central bank has not detailed the exact nature of its interventions.
Where can the public verify RBI's gold holdings?
The RBI publishes details of its gold holdings in its Monthly Bulletin, available on the central bank's official website. The RBI has advised citizens to rely only on this official information for matters concerning its reserves.
