Business EconomyPosted at: Jun 3 2026 1:05PM


Govt dismisses Bloomberg report on RBI's gold monetisation as 'Fake'

New Delhi, June 3 (UNI) The government rejected Bloomberg report stating that Reserve Bank of India (RBI) may have sold gold amounting to USD 12 billion.
Dismissing the report as Fake, PIB fact check posted on X, "According to @RBI, the share of gold in India's foreign exchange reserves rose from 13.92percent at end-September 2025 to 16.70percent on March 31, 2026, and further to 16.85percent as of May 22, 2026."
"The physical stock of gold is also disclosed by RBI in its Monthly Bulletin," the social media post added.
The Bloomberg report released last month said that the RBI may have sold nearly USD 12 billion worth of gold in late May to protect its foreign exchange and cushion the Rupee amid the US-Iran war.
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