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BCRA challenges claim of $1bn loss on gold hedges

Central bank says derivatives transactions in 2025 reflected routine hedging operations

Central Bank of Argentina

The Central Bank of Argentina has pushed back on a claim by its auditor that it lost $1 billion on hedging its gold reserves in 2025, saying this reflected routine market operations and that its overall gold position yielded a net positive result.

In a report released on October 8, Argentina’s National Audit Office (AGN) said it had approved its audit of the central bank’s accounts up to the end of 2025 but highlighted certain derivative transactions for hedging purposes that were settled in

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