Industry Odisha Bureau, Jun 4: Dispelling doubts and refuting the political accusations published in a section of media that India’s part of gold reserves worth billions of dollars has covertly been sold off abroad, the Reserve Bank of India (RBI) has reportedly dismissed such a speculation outrightly affirming that the country’s gold reserves are all intact as well as the country’s pecuniary position is all well and good.
Stepping in forthwith, the RBI yesterday issued a fact-check clarifying that “the reports are factually incorrect” and “India’s physical stock of gold remains unchanged at 880.52 tones.
As per the RBI’s official statement, “In this context, it is clarified that the physical stock of gold is disclosed by RBI in its Monthly Bulletin. The latest edition is available on the RBI website and the physical stock of gold remains unchanged at 880.52 tones as on date.”
Explaining further, the RBI said, “Members of public are, therefore, advised to rely on official information published by RBI from time to time in such matters.”
Such a clarification by the RBI was warranted in the wake of a Bloomberg report as well as AAP supremo Arvind Kejriwal’s X post.
The Bloomberg had reportedly claimed that: “The RBI likely sold gold reserves worth around $12 billion during the two weeks ending May 22, while purchasing $7.5 billion in foreign-currency assets.
As reported, the media report had further claimed: “The RBI’s interventions in the foreign exchange market appeared to have supported the rupee, helping the Indian currency perform better than most Asian peers since May 20, when it touched a record low.”
Besides, questioning the incumbent Indian Government about the alleged sale of gold reserves, AAP national convenor Arvind Kejriwal reportedly posted yesterday (June 3) on his official X handle: “Is this news true? Is the country’s gold being sold? Has the government become so bankrupt? In the last 76 years, there have been many such occasions when the country was in a difficult situation. But the country’s gold was never sold. Does that mean the situation is extremely bad? Why doesn’t the government tell us anything? What is the state of the country?”
However, the RBI data has reportedly claimed that: “India’s physical gold holdings remain at 880.52 tones. Between September 2025 and March 31, 2026, gold’s share in India’s forex reserves rose from 13.92 per cent to 16.70 per cent. The share increased further to 16.85% as of May 22, 2026.”
