PIB Fact Check dismisses claims of RBI selling $12 billion gold reserves as fake
New Delhi, June 3
The government on Wednesday dismissed claims that the Reserve Bank of India 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.
According to RBI data, the value of gold reserves increased significantly over the past year, rising from $81.82 billion in early May 2025 to around $120.24 billion by late April 2026.
The share of gold within India's overall foreign exchange reserves has also increased steadily during the period, reflecting both valuation gains and changes in reserve composition.
India's total foreign exchange reserves stood at around $698.49 billion as of April 24, according to the latest RBI data.
PIB urged users to rely on official RBI communication channels for authentic information regarding the country's reserves and monetary data.
— IANS
Reader Comments
Why do these fake stories keep circulating? Our gold reserves going up from 13.92% to 16.85% is actually great news. Shows the RBI is diversifying into safer assets. But I wish we had more transparency from the government on economic matters, instead of just fact-checking after rumors spread.
$120 billion in gold reserves now? That's massive growth from $81 billion in a year. Smart move by RBI to increase gold holdings given global uncertainties. India is becoming a serious player in the global economy.
Good to see PIB acting fast. But we need more awareness about fact-checking among common people. These rumors only create panic in the markets and affect everyday investors. 🙏
Growing gold reserves is wise. Gold has always been an important part of our culture and economy. However, I wonder if relying too much on gold might affect our ability to use foreign exchange for essential imports. Balance is key.
From 13.92% to 16.85% gold share in reserves - impressive consistency. India is building a solid economic buffer. These fact-checks by PIB are necessary to counter the noise on social media.
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