RBI refrains from buying gold in July; gold reserves at $104.74 bln
This story was originally published at 21:18 IST on 25 August 2026
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MUMBAI – The Reserve Bank of India refrained from adding gold to its reserves in July. Its stock of the precious metal was unchanged on the month at 880.52 tonnes as of Jul. 31, according to the central bank's monthly bulletin released Tuesday.
The RBI's gold reserves were valued at $104.74 billion as of Jul. 31, accounting for over 15% of the country's total foreign exchange reserves of $692.87 billion.
The monthly average price of gold in Mumbai fell to INR 148,095 per 10 grams in June from INR 154,756 per 10 grams in May but was up from INR 97,176 per 10 grams in June 2025, according to the bulletin, which cited data from the India Bullion and Jewellers Association.
At 1941 IST, the most active December gold futures contract on COMEX was at $4,672.6 per ounce, down 0.5% from the previous close. The most active October futures contract on the Multi Commodity Exchange of India was down 0.5% at INR 162,486 per 10 gram. End
US$1 = INR 95.41
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Somen Bose
Edited by Deepshikha Bhardwaj
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