RBI Dismisses Gold Sale Rumours, Confirms Holdings Unchanged

General
1

The RBI has clarified that recent reports suggesting it sold a portion of its gold reserves are incorrect.

  • India’s gold holdings remain unchanged at 880.52 tonnes.
  • The physical stock of gold continues to be held as reported in RBI’s official records.
  • Gold reserve data is regularly disclosed through the RBI’s Monthly Bulletin.
  • The central bank has urged the public to rely only on official RBI communications.

The clarification comes after media reports sparked speculation about a possible sale of RBI’s gold reserves.

Surprised it escalated so much that RBI has to come out with a clarification

2

To put RBI’s 880 tonnes into perspective.

image
image819×690 38.2 KB

The 35,000 tonnes of gold estimated to be held in Indian households is based on official research studies; the actual, undocumented amount could be up to five times over.

3

35,000 tonnes is itself an estimate. The actual number could be higher, but 5x more sounds like a stretch unless there’s solid data to back it up. India loves gold, but 175,000 tonnes would be massive.