Mr Gray went missing after leaving his home in Minefield Avenue on Friday, September 13, sparking a search that involved a Sea King helicopter from RAF Lossiemouth and a police diving team.
His Seat Ibiza car was subsequently located in the Boat o’Brig car park, leading to the search being concentrated in that area before being extended further down the river early last week.
A police statement today revealed that Mr Gray’s body was recovered from the river on Monday.
A Police Scotland statemenet said: “Police in Aberdeenshire and Moray Division can confirm that a body which was recovered from the River Spey near to Boat O’ Brig, Rothes, on Monday 23 September, and has been identified as missing man Sandy Gray.
“The 66-year-old was reported missing from Elgin on Friday 13 September.
“There appear to be no suspicious circumstances surrounding his death and a report will be sent to the Procurator Fiscal in due course.”