RBI dismisses gold sale rumours; physical reserves stand steady at 880.52 tonnes

MUMBAI, June 3 : Debunking reports of gold sale, the Reserve Bank of India on Wednesday said there is no change in the physical stock of gold, which remains unchanged at 880.52 tonnes.

The clarification from the Reserve Bank of India (RBI) comes following reports that the RBI may have sold gold amounting to approximately USD 12 billion to shield its foreign-currency reserves from the impact of the ongoing conflict in West Asia.

“The RBI emphasises that these reports are not correct,” the central bank said in a statement. ( PTI )