RBI refrains from buying gold for second consecutive month in May
This story was originally published at 17:50 IST on 25 June 2025
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--RBI did not buy or sell any gold in May
MUMBAI - The Reserve Bank of India refrained from buying or selling gold for the second consecutive month, with its stock of gold remaining steady at 879.58 tonnes as on May 30, according to its monthly bulletin for June released Wednesday. The last time the central bank had bought gold was in the last week of March, when it added 570 kg of gold to its reserves.
As of May 30, the central bank's gold reserves were valued at $84.3 billion, accounting for 12.2% of the country's total foreign exchange reserves of $691.5 billion.
The RBI revalues its gold reserves at the end of every month at 90% of the daily average price quoted by London Bullion Market Association.
Recent geopolitical factors have increased the safe haven appeal of gold, prompting many global central banks to buy more gold. And this trend is expected to continue, according to World Gold Council.
"Gold's performance during times of crisis, portfolio diversification and inflation hedging are some key themes driving plans to accumulate more gold over the coming year. In addition, gold's unique characteristics and role as a strategic asset continue to be valued by central banks: its performance in times of crisis, ability to act as a store of value, and its role as an effective diversifier, continue to be cited as key reasons for an allocation to gold," the WGC report said. End
US$1 = INR 86.08
Reported by Abhijit Doshi
Edited by Ashish Shirke
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