Has the Reserve Bank of India (RBI) sold gold worth $12 billion? This question is floating on social media after Bloomberg’s report. Bloomberg claimed in its report that the RBI may have sold gold to save its foreign exchange reserves due to the ongoing conflict in West Asia.
On Wednesday, RBI issued a statement denying these reports. The central bank says that there is no change in the physical reserves of gold. It still remains at 880.52 tonnes. Further said that RBI emphasizes that these reports are not true. The general public is advised to rely only on the official information published by RBI from time to time in such matters.
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PIB told fake news
On the other hand, the Press Information Bureau also fact checked the Bloomberg news and declared the news fake. PIB wrote on its official X account, ‘Bloomberg said in its report that RBI may have sold gold worth $ 12 billion.’ This claim is fake.
According to RBI, the share of gold in India’s foreign exchange reserves increased from 13.92% at the end of September 2025 to 16.70% as on March 31, 2026 and further increased to 16.85% by May 22, 2026. RBI also gives information about physical stock of gold in its monthly bulletin. Its latest version is available on the RBI website.
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What’s in the Bloomberg report?
Bloomberg claimed in its report that India purchased foreign currency assets worth $7.5 billion during the two weeks ending May 22. Gold worth $12 billion has been sold. It was claimed that this step of RBI strengthened the rupee in the foreign exchange market. The report also said that the RBI had 880.52 metric tonnes of gold at the end of March. About 77 percent of the reserves are kept in India. Six months ago, about 66 percent of the gold reserves were in the country.
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