India's central bank has rejected reports suggesting it sold part of its gold reserves, stating that its physical gold holdings remain unchanged at 880.52 tonnes, according to Moneycontrol.

The clarification came after media reports, citing an analysis by Bloomberg Economics, suggested the Reserve Bank of India (RBI) may have offloaded around $12bn worth of gold in the two weeks leading up to May 22 while increasing its foreign-currency asset holdings.

In a statement issued on June 3, the RBI said reports claiming it had sold gold were inaccurate. The central bank stressed that information regarding its physical gold stock is published regularly in its Monthly Bulletin and that there has been no change in the quantity of gold held.

The RBI also urged investors and the public to rely on official disclosures and communications issued by the central bank rather than media speculation on reserve management activities.

Separately, the Press Information Bureau's Fact Check unit also moved to counter the claims, describing reports that the RBI had sold approximately $12bn worth of gold as false, Moneycontrol reported.

Official data cited by the PIB showed that gold's share in India's foreign exchange reserves has continued to rise in recent months. Gold accounted for 13.92% of total reserves at the end of September 2025, increasing to 16.70% by March 31, 2026, and further to 16.85% as of May 22, 2026.

The figures indicate that gold has become a larger component of India's reserve portfolio despite the speculation surrounding possible sales.

The RBI's statement seeks to put an end to market speculation over its reserve management strategy at a time when central banks globally have been increasing their gold allocations amid geopolitical uncertainty and volatility in financial markets.

With the clarification, the central bank reaffirmed that its gold stock remains intact and that no reduction in physical holdings has taken place.