The PIB Fact Check unit has dismissed reports suggesting the Reserve Bank of India sold a significant portion of its gold holdings…reports Asian Lite News Desk
The government on Wednesday rejected claims that the Reserve Bank of India (RBI) had sold gold worth around $12 billion, describing reports suggesting such a move as false and misleading.
The clarification came after reports circulated claiming that the central bank had offloaded a substantial portion of its gold reserves.
In a post on X, the Press Information Bureau’s Fact Check unit said official data released by the RBI directly contradicted the claims.
According to the PIB Fact Check unit, the share of gold in India’s foreign exchange reserves has increased steadily in recent months rather than declined.
“According to RBI, the share of gold in India’s foreign exchange reserves rose from 13.92 per cent at the end of September 2025 to 16.70 per cent on March 31, 2026, and further to 16.85 per cent as of May 22, 2026,” the PIB said.
The government also pointed to the RBI’s regular disclosures on its gold holdings through its Monthly Bulletin, noting that the central bank’s physical gold stock remains largely unchanged.
Official data released by the RBI showed that India’s physical gold reserves stood at around 880 metric tonnes as of April 24, 2026.
The figures indicate that there has been no major reduction in the country’s gold holdings despite reports suggesting a large scale sale.
The RBI’s data further showed that the value of India’s gold reserves has increased sharply over the past year, largely due to rising international gold prices.
The value of the reserves rose from approximately $81.82 billion in early May 2025 to about $120.24 billion by late April 2026.
As a result, gold now accounts for a larger share of India’s overall foreign exchange reserves than it did a year ago.
The increase in gold’s share within the reserve portfolio reflects both valuation gains and changes in the composition of the country’s foreign exchange assets.
India’s total foreign exchange reserves stood at around $698.49 billion as of April 24, according to the latest RBI figures.
The PIB urged the public to rely on official RBI publications and government communication channels for accurate information relating to the country’s reserves and monetary data.
The clarification comes amid growing public attention on central bank gold holdings as several countries continue to increase allocations to gold in their reserve portfolios amid global economic uncertainty.
