India's central bank hasn't sold any gold recently nor is trading in themetal, the monetary authority said in a tweet on Sunday.
As per reports, on Friday that the Reserve Bank of India started trading ingold actively since July, buying gold worth $5.1 billion and selling $1.15billion worth. The newspaper cited data from the RBI's Weekly StatisticalSupplement.
"The fluctuation in value depicted in Weekly StatisticalSupplement is due to change in frequency of revaluation from monthly to weeklybasis and is based on international prices of gold and exchange rates," the RBIsaid in the tweet. The central bank's gold reserves are valued at about $27billion as of October 18, latest data showed.
