PIB Fact Check dismisses claims of RBI selling $12 billion gold reserves as fake

NEW DELHI: The government on Wednesday dismissed claims that the Reserve Bank of India (RBI) sold gold worth around $12 billion, calling a media report fake.

In a post on X, the Press Information Bureau (PIB) Fact Check unit rejected claims that the RBI had offloaded a significant portion of its gold reserves, citing official data released by the central bank.

“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,” PIB Fact Check said.

The clarification came after claims surfaced suggesting that the central bank may have sold gold worth nearly $12 billion.

PIB further noted that the RBI regularly discloses its physical gold holdings through its Monthly Bulletin and said the status of the central bank’s gold stock remains unchanged.

According to RBI data released on May 22, the share of gold in overall foreign exchange reserves continued to increase, contradicting claims of any large-scale sale.

The data showed that India’s physical gold reserves stood at around 880 metric tonnes as of April 24, 2026, largely unchanged from previous disclosures.