The Reserve Bank of India (RBI) has issued an important statement ending all speculations about the country’s gold reserves. The central bank has clarified that there has been no fall in its gold reserves and reports of gold sales are completely false. In fact, some reports recently claimed that the RBI sold around $12 billion worth of gold to avoid Middle East tensions and impact on foreign exchange reserves. After this news came to light, various questions and concerns have arisen in the market.
RBI said in a statement on Wednesday that the gold sales report was factually incorrect. According to the central bank, it currently holds 880.52 tonnes of physical gold reserves and remains unchanged. RBI has urged the general public to rely only on the official website and published documents of the bank in such matters. The government’s Press Information Bureau (PIB) also carried out a fact-check on social media confirming the authenticity of the gold sale claims.
Interestingly, only the share of gold in India’s foreign exchange reserves has increased in recent months. According to RBI data, the share of gold in foreign exchange reserves stood at 13.92 per cent at the end of September and will increase to 16.70 per cent by the end of March 2026 and May 22.It reached 16.85 percent. The whole controversy started after an international report suggested that the RBI was selling gold. But after the central bank’s clarification, it is now clear that the country’s gold reserves are completely safe.
Meanwhile, investors’ eyes are now on the crucial meeting of RBI’s Monetary Policy Committee. The three-day meeting began on June 3 and RBI Governor Sanjay Malhotra will announce the decisions in June. However, most experts feel that the RBI has folded in the current scenario‘There is no possibility of any rate adjustment.