The Reserve Bank of India (RBI) has officially denied rumours that it sold 35 tonnes of gold from its reserves.
The false claim surfaced on social media in a post that was shared by the PIB Fact‑Check Unit on X. In a statement posted on its own X handle, the RBI said the reports were “unsubstantiated rumours” and urged people to rely only on official sources for accurate information. The central bank also reminded users to check its website, rbi.org.in, for verified data and updates.
This clarification comes at a time when global markets are watching gold closely. Central banks around the world, especially in emerging economies, are buying more gold as a hedge against the US dollar. Since Russia’s reserves were frozen in 2022, many countries have increased their gold holdings, raising the asset’s share of global reserves to over 20%. Gold is often seen as a “sanction‑proof” store of value.
Analysts have linked the recent surge in gold prices to worries about a weaker dollar and inflation. However, recent market data shows the US dollar and Treasury yields have stayed steady, suggesting the currency environment is not deteriorating as fear would imply.
In short, the RBI’s statement clears up the misinformation, and its official channels remain the best place for reliable news about India’s gold reserves and other monetary policy decisions.
Source: ianslive
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