RBI Refutes Claims of $12 Billion Gold Sale to Safeguard Forex Reserves
RBI Denies Report Of Offloading Gold Worth $12 Billion To Protect Forex Reserves
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The Reserve Bank of India (RBI) has denied reports that it sold $12 billion worth of gold to protect its foreign-exchange reserves amid Middle East tensions. The RBI confirmed that its gold holdings remain stable at 880.52 tonnes.
- 01RBI's gold share in foreign exchange reserves increased from 13.92% in September 2025 to 16.85% by May 2026.
- 02The RBI's physical gold stock remains unchanged at 880.52 tonnes, as stated in its Monthly Bulletin.
- 03The PIB fact-checked and labeled the Bloomberg report as 'FAKE' regarding the alleged gold sale.
- 04Bloomberg's report suggested RBI may have sold gold due to rising tensions in the Middle East, which RBI has refuted.
- 05RBI advises the public to rely on its official communications for accurate information.
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The Reserve Bank of India (RBI) has officially denied claims that it sold approximately $12 billion worth of gold to protect its foreign-exchange reserves amidst escalating tensions in the Middle East. The Press Information Bureau (PIB) labeled the report as 'FAKE,' stating that the RBI's gold holdings have actually increased from 13.92% of total reserves in September 2025 to 16.85% by May 2026. The RBI confirmed that its physical gold stock remains unchanged at 880.52 tonnes, as detailed in its Monthly Bulletin, which is accessible on the RBI's official website. This denial comes in response to a Bloomberg report that suggested the RBI had offloaded gold to cushion the economic impact of the conflict. The RBI emphasized that the public should rely on its official statements for accurate information, highlighting the importance of verifying news from credible sources.
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The RBI's denial of the gold sale reassures investors and the public about the stability of India's foreign-exchange reserves.
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