The Centre has dismissed claims circulating in media reports that the Reserve Bank of India (RBI) sold gold worth around USD 12 billion to strengthen India’s foreign exchange reserves.
The clarification comes after a report suggested that the central bank had trimmed its gold holdings amid global uncertainties, including tensions in West Asia, in order to protect foreign currency reserves.
Government Calls Claim Misleading
The government’s fact-checking unit stated that the claim is incorrect and misleading. According to data shared in a public post by PIB Fact Check, India’s gold holdings have actually increased in proportion within the overall foreign exchange reserves.
It was noted that the share of gold in India’s foreign exchange reserves rose from 13.92% in September 2025 to 16.70% by March 2026, and further to 16.85% by May 2026.
No Evidence of Large Gold Sale
Officials clarified that there is no evidence to support claims of a large-scale gold sale by the RBI. Instead, the overall data suggests a steady increase in the value and share of gold within the country’s reserve portfolio.
The statement effectively rejects speculation that the central bank has been offloading gold to manage external pressures.
What Triggered the Rumour?
The discussion began after media reports suggested possible adjustments in India’s reserve composition amid global geopolitical tensions. However, government sources have now firmly denied any such major gold sale, putting the speculation to rest.
