RBI gold vault with stacked cages of gold bars and digital displays.
The Reserve Bank of India (RBI) has issued a denial regarding recent reports suggesting a significant sale of its gold reserves. The central bank clarified that its physical gold stock has remained constant at 880.52 tonnes. This statement comes in response to market speculation that the RBI may have divested gold assets to manage foreign exchange reserves amidst prevailing market volatility.
The RBI emphasized that its internal gold valuation methodology differs from external assessments, which may have contributed to the discrepancy leading to the reports. The central bank has maintained a consistent stance on its gold holdings, and this latest clarification aims to dispel any market uncertainty stemming from the unsubstantiated claims of a sale.
About the Author
