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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The Reserve Bank of India (RBI) has formally denied reports claiming it sold a significant portion of its gold reserves valued at $12 billion in late May. The central bank clarified that its physical stocks of the precious metal remain unchanged at 880.52 tonnes. This rebuttal aims to maintain market stability and correct misinformation following a Bloomberg report that raised questions regarding the management of India's national reserves.
This clarification comes as global central banks, particularly in emerging markets, continue to bolster their gold holdings as a hedge against geopolitical volatility and inflation. According to World Gold Council data, central bank gold buying has reached record levels in recent years, with India remaining a top-tier holder. The RBI's denial serves as a strong signal of its commitment to gold as a strategic asset, easing fears of sudden institutional selling pressure in the global bullion market.
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Sign InTraders are currently monitoring global gold price levels which remain sensitive to US monetary policy, especially following the Core PCE Price Index release at 0.2% on May 28, 2026. With India's reserves confirmed stable, the market focus shifts to upcoming central bank catalysts, including speeches from Fed officials, which will likely dictate the near-term trajectory for non-yielding assets like gold.