Schalke boss Ralf Rangnick says Raul has not asked to leave the club and there have been no enquiries for his services.
Raul, 34, ended a lifelong association with Real Madrid when he moved to Schalke last summer and he helped the side reach the Champions League quarter-finals in his debut season, but there has been speculation he could be on his way out.
Reports earlier this month claimed Schalke were unwilling to renew Raul's deal on terms comparable to his current contract, and big-spending Malaga and Anzhi Makhachkala are among the teams to have been linked.
However, Rangnick told Bild: "In terms of Raul, it is the same as it is with all of the players of my squad.
"If he comes up saying he wants to move on we'll look into things. So far he hasn't said anything to me and we've not received any enquiries from any club.
"I have been speaking to Raul over the past months every now and then and he has said everything is fine. Raul is definitely an important player for our team, although there are 11 players on the pitch."