PIB, RBI Dismisses Bloomberg Report On RBI Selling $12 Billion In Gold As Fake News

RBI Gold Selling Claims: The Press Information Bureau (PIB) has issued on clarification on a Bloomberg new report, claiming that RBI may have sold gold amounting to approximately $12 billion.

While dubbing the claim in the Bloomberg report as "fake", PIB noted that as per RBI "the share of gold in India's foreign exchange reserves rose from 13.92% at end-September 2025 to 16.70% on March 31, 2026, and further to 16.85% as of May 22, 2026."

Meanwhile, India's apex bank also issued a clarification on its gold holdings. The Reserve Bank of India said, it "has come across reports in certain sections of the media about RBI’s sale of gold. The RBI emphasizes that these reports are not correct." 

"The physical stock of gold remains unchanged at 880.52 tonnes as on date, said RBI, while adding that, "members of public are, therefore, advised to rely on official information published by RBI from time to time in such matters."

As per official RBI record, the gold reserves of India's apex bank have risen from 880.34 volume metric tonnes on March 27, 2026, to 880.57 volume metric tonnes as of June 3, 2026. 

What Did The Bloomberg Report Claim? 

The Bloomberg report noted that the Reserve Bank of India likely sold gold reserves worth nearly $12 billion during the two weeks ending May 22, while purchasing $7.5 billion in foreign-currency assets.

Further, it said that RBI's actions in the foreign exchange market seemed to have strengthened the rupee, aiding it to perform better than Asian currencies at large since May 20, when it touched a record low.