The Reserve Bank of India (RBI) and the Central government on Wednesday strongly rejected reports claiming that nearly USD 12 billion worth of gold was sold to protect India`s foreign currency reserves amid the ongoing tensions in West Asia. स्वर्ण धारिता संबंधी स्पष्टीकरणClarification on gold holdingshttps://t.co/JrCUhWWEHo — ReserveBankOfIndia (@RBI) June 3, 2026 “The RBI emphasises that these reports are not correct,” the central bank said, urging the public to rely on official information released by the RBI and official government agencies on such matters. Reports sparked speculation over reserve management The clarification came after reports suggested that the RBI may have sold a significant portion of its gold reserves to shield India`s foreign exchange reserves from the impact of the conflict in West Asia. One such analysis by Bloomberg Economics estimated that the RBI could have sold nearly USD 12 billion worth of gold during the two weeks ending May 22 while purchasing around USD 7.5 billion in foreign-currency assets, as per IANS reports. However, both the RBI and the government rejected the claim, saying …