RBI debunks reports on gold sale, says reserves are ‘steady at 880.52 tonnes’

4 JUNE 2026

Debunking reports of gold sale, the Reserve Bank of India (RBI) said there is no change in the physical stock of gold, which remains unchanged at 880.52 tonne.
The clarification from the RBI comes following reports it may have sold gold amounting to approximately $12 billion to shield foreign-currency reserves from the impact of the ongoing conflict in West Asia.
Once considered among Asia’s more stable currencies, the rupee has now become one of the worst-performing emerging market currencies this year, pressured by a toxic mix of expensive oil, capital outflows, widening trade deficits and a surging U.S. dollar.
It has depreciated about 7% so far in 2026.
India’s forex reserve stood at $686.801 billion in the week to January 2, 2026.
India’s forex reserves dropped $7.511 billion to $681.384 billion during the week ended May 22.