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Argentina BCRA gold reserve management sparks legal complaints
The Central Bank of the Argentine Republic (BCRA) is facing legal and political scrutiny following an audit by the General Audit Office (AGN) regarding its gold reserve management in 2025. The AGN reported that financial derivative operations intended as hedges resulted in a loss of approximately US$ 1,023 million, consisting of US$ 960 million in negative contract results and US$ 62.8 million in option premiums. The audit suggested the bank may have been speculating on gold prices rather than hedging.
The Argentine government and the BCRA have rejected these findings. Presidential spokesperson Adrián Ravier defended the strategy, describing the operations as necessary insurance against market volatility. The BCRA maintains that its total gold position, including hedges, actually yielded a net gain of approximately US$ 2,505 million, as the appreciation of the metal's price offset the derivative losses.
In response to the audit, lawyer Gregorio Dalbón has filed legal requests for the arrest of Economy Minister Luis Caputo, BCRA President Santiago Bausili, and Director Juan Curutchet. The legal actions allege fraud against public administration, abuse of authority, and breach of official duties. Additionally, Deputy Esteban Paulón has filed a criminal complaint seeking to investigate potential embezzlement of public funds and demanding greater transparency regarding the location and quantity of gold reserves.
Entities
Argentina · Auditoría General de la Nación · Banco Central de la República Argentina · Gregorio Dalbón · Juan Curutchet · Luis Caputo · Santiago Bausili
Claims
What the coverage asserts, and how many sources carry each claim.
- [DISPUTED] The AGN reported that gold derivative operations in 2025 resulted in a loss of US$1,023 million. lagacetaonline.com.ar · www.planbnoticias.com.ar · asiesnuestravida.com.ar · www.cuarto.com.ar · www.perfil.com · +6 more
- [● 4 SOURCES] Lawyer Gregorio Dalbón has requested the arrest of Luis Caputo, Santiago Bausili, and Juan Curutchet. asiesnuestravida.com.ar · www.cuarto.com.ar · elsubmarinojujuy.com.ar · www.perfil.com
- [● 9 SOURCES] The US$ 1,023 million loss includes US$ 960 million from negative contract results and US$ 62.8 million in option premiums. lagacetaonline.com.ar · www.planbnoticias.com.ar · asiesnuestravida.com.ar · www.cuarto.com.ar · www.perfil.com · +4 more
- [● 2 SOURCES] Deputy Esteban Paulón filed a criminal complaint against Luis Caputo and Santiago Bausili regarding gold reserve management. cuestionentrerriana.com.ar · www.parlamentario.com
- [DISPUTED] The BCRA claims its gold position, including hedges, resulted in a net gain of approximately US$ 2,505 million. lagacetaonline.com.ar · www.planbnoticias.com.ar · borderperiodismo.com · hoydia.com.ar
- [● 3 SOURCES] Presidential spokesperson Adrián Ravier defended the BCRA's gold hedging as a necessary insurance against market volatility. www.planbnoticias.com.ar · borderperiodismo.com · hoydia.com.ar
- [● 4 SOURCES] Lawyer Gregorio Dalbón requested the arrest of Luis Caputo, Santiago Bausili, and Juan Curutchet. asiesnuestravida.com.ar · www.cuarto.com.ar · www.perfil.com · elsubmarinojujuy.com.ar
- [● 4 SOURCES] The BCRA claims its gold position, including hedges, resulted in a net gain of US$2,505 million. lagacetaonline.com.ar · www.planbnoticias.com.ar · borderperiodismo.com · hoydia.com.ar
- [● 3 SOURCES] The AGN accused the BCRA of speculating on gold prices rather than hedging. www.planbnoticias.com.ar · borderperiodismo.com · hoydia.com.ar