The Reserve Bank of India (RBI) on Wednesday confirmed that it had not sold any gold, refuting the media reports that indicated that the central bank had sold some of its bullion holdings worth $12 billion.
“RBI has come across reports in certain sections of the media about RBI’s sale of gold. The RBI emphasises that these reports are not correct,” the bank said in a statement. It said that its physical stock of gold remained unchanged at 880.52 tonnes.
“The physical stock of gold is disclosed by RBI in its monthly bulletin, and the physical stock of gold remains unchanged at 880.52 tonnes as on date,” the central bank added.
The clarification comes after several media reports suggested that RBI might have sold almost $12 billion worth of gold reserves during the two weeks ending May 22, 2026, in response to the rising oil costs, geopolitical unrest in West Asia, and pressure on the rupee.
The RBI’s statement effectively rejects those reports, reiterating that there has been no change in its physical gold holdings.
The central bank recommended the public to rely on official information released by the RBI considering issues pertaining to its reserve holdings.
