Fact Check: Did RBI sell gold worth $12 billion? The central bank says stock ‘remains unchanged’

Key points

• The Reserve Bank of India (RBI) on Wednesday issued a clarification on gold stock holdings in India, noting that speculation over the central bank's sale of the precious metal reserves is “not correct”.
• Notably, the RBI's clarification comes after reports said the central bank may have sold around $12 billion worth of gold to shield its foreign-currency reserves from the impact of the war in West Asia.
• Read full RBI statement here: ‘Reports not correct’ “The RBI emphasizes that these reports are not correct.
• In this context, it is clarified that the physical stock of gold is disclosed by RBI in its Monthly Bulletin.
• The latest edition is available on the RBI website, and the physical stock of gold remains unchanged at 880.52 tonnes as on date,” the statement dated 3 June read.