Bank Indonesia Denies Selling 11 Tons of Gold Reserves

October 7, 2025 | 07:59 am

TEMPO.CO, Jakarta - Bank Indonesia (BI) denied selling 11 tons of gold reserves. The rumors of the gold sale surfaced after the World Gold Council stated in its report that BI had sold gold reserves in July 2025.

"Bank Indonesia did not sell gold as mentioned," said the Head of BI's Communication Department, Ramdan Denny Prakoso, in a written statement on Monday, October 6, 2025. Denny emphasized that official information about Indonesia's foreign exchange reserves can be followed through BI's official website.

In the World Gold Council report, central bank gold reserves worldwide increased by 15 tons in August 2025. Meanwhile, in the previous month, the gold reserve increase was recorded as stagnant or zero. The World Gold Council concluded these figures based on data processed from the International Monetary Fund (IMF) and central banks in various countries.

"This (August) development is in line with the monthly net purchases between March and June and indicates the return of the purchase trend after the global reserves remained unchanged in July (we revised the initial estimate of a 10-ton increase in July after Bank Indonesia was reported to have sold 11 tons)," said Senior Analyst of the World Gold Council Krishan Gopaul in his statement on gold.org, cited on Monday, October 6, 2025.

According to Gopaul, the increase in the world gold price also influences central bank gold purchase transactions. This condition can also be a driving factor for some banks to make sales. However, Gopaul said that this does not mean central banks lose interest in adding gold reserves.

In August, the World Gold Council noted that seven central banks added gold reserves. The seven banks are the National Bank of Kazakhstan, Bulgarian National Bank, Central Bank of Turkey, People's Bank of China, Central Bank of Uzbekistan, Czech National Bank, and Bank of Ghana.

"Based on the data at the time this report was written, only the Central Bank of Russia and Bank Indonesia were selling gold," said Gopaul.

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