RBI buys 400 kg of gold in June, taking total holding to 879.98 tonnes
This story was originally published at 17:08 IST on 23 July 2025
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--RBI buys 400 kg gold in week ended Jun 27, taking total stock to 878.98 tn
MUMBAI – The Reserve Bank of India bought 400 kilograms of gold in the week to Jun. 27, taking its gold reserves to 879.98 tonnes, according to the its monthly bulletin released Wednesday. As of Jun. 27, the central bank's gold reserves were valued at $84.5 billion, accounting for 12% of the country's total foreign exchange reserves of $702.8 billion.
"Gold (prices) rallied in the first half of June on safe haven demand and a weakening US dollar but eased in the second half as geopolitical tensions subsided. In July so far, Bloomberg commodity price index moved with an upside bias amidst a range bound movement in crude oil prices and metals prices," according to the bulletin.
Although headline CPI inflation remained below the 4% target for the fifth consecutive month in June, core inflation, which excludes food and fuel, edged up primarily due to further increase in gold and silver prices and from an uptick in services inflation. Removing the impact of gold and silver prices, core inflation remained benign, it added.
The monthly average price of gold in Mumbai rose to INR 94,590 per 10 grams in May from INR 93,091 per 10 grams in April and up from INR 72,135 per 10 grams in May 2024, the bulletin said, citing India Bullion and Jewellers Association data.
At 1553 IST, the August gold contract on the COMEX was $3,437.5 per ounce, down 0.2% from the previous close. The same month contract on the Multi Commodity Exchange of India was steady at INR 100,344 per 10 grams. End
US$1 = INR 86.41
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Ashutosh Pati
Edited by Subhojit Sarkar
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