India's RBI Confirms Gold Reserves Unchanged, Denies $12 B Sale

The Reserve Bank of India (RBI) issued a statement rejecting media reports that it had sold roughly $12 billion worth of gold to protect its foreign‑currency reserves. The central bank clarified that its physical gold holdings remain steady at 880.52 tonnes, unchanged from the previous reporting period.

RBI added that the rumours stemmed from concerns over the rupee’s recent weakness amid the West Asia conflict, noting that it has been intervening in the foreign‑exchange market through dollar sales rather than gold disposals. The share of gold in India’s overall forex reserves has continued to rise, while the total reserves have contracted slightly due to recent market interventions.