In a clarification issued by RBI, the central bank said reports in certain sections of the media suggesting a sale of gold were “not correct”. It added that the country’s physical gold holdings stood at 880.52 tonnes and remained unchanged as of date.
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“The physical stock of gold is disclosed by RBI in its Monthly Bulletin and remains unchanged at 880.52 tonnes,” the central bank said, advising the public to rely on official information published by the RBI.
The clarification followed a media report that said the RBI may have reduced part of its gold holdings, estimated at around $12 billion, to protect foreign currency reserves from the impact of the ongoing geopolitical tensions in West Asia.
Backing the RBI’s position, the Press Information Bureau (PIB) issued a fact-check noting that the increase in gold’s share within India’s foreign exchange reserves reflected valuation changes rather than any sale of bullion. According to the PIB, gold accounted for 13.92% of India’s foreign exchange reserves at the end of September 2025, rising to 16.70% on March 31, 2026, and further to 16.85% as of May 22, 2026.
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The RBI’s gold holdings have in fact edged higher over the past year. Official data showed the country’s gold reserves stood at 879.58 tonnes in May 2025, compared with 880.52 tonnes currently.