The government today said reports pertaining to RBI selling gold worth $12 billion to manage foreign exchange are incorrect.

The Press Information Bureau today said reports stating that that RBI may have sold gold amounting to approximately $12 billion are fake. “This claim is FAKE. According to the Reserve Bank of India, the share of gold in India's foreign exchange reserves rose from 13.92% at end-September 2025 to 16.70% on March 31, 2026, and further to 16.85% as of May 22, 2026,” it said.

“The physical stock of gold is also disclosed by RBI in its Monthly Bulletin. The latest edition is available on the RBI. The status remains unchanged as on date. For authentic information, always visit the RBI's official website,” the government said.

RBI too dismissed the report. “The Reserve Bank of India (RBI) has come across reports in certain sections of the media about RBI’s sale of gold. 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,” RBI said.  

“The physical stock of gold remains unchanged at 880.52 tonnes as on date. Members of public are, therefore, advised to rely on official information published by RBI from time to time in such matters,” it added.

Earlier there were reports that the government will monetise the gold with temple trusts amid the foreign exchange crisis in the wake of the West Asia crisis. Those claims too were dismissed by the government. Issuing a clarification on monetisation of gold holdings of the temples in the country, the ministry said on May 19 that certain media reports and social media posts are circulating with claims that the government is planning to issue gold bonds to temples in exchange for temple gold reserves or that a proposal has been approved for monetisation of temple gold holdings.

“Speculation and rumours suggesting that the government is planning to introduce monetisation scheme for gold held by temple trusts, or any religious institution, across the country are completely false, misleading and without any basis,” the ministry said a short while back. 

“It is also clarified that claims suggesting that gold plates on temple towers, doors, or other temple structures will be considered as “strategic gold reserves of India” are false, misleading, and entirely baseless," the ministry had said. 

"Citizens are requested not to believe or circulate such rumours. Spreading unverified information creates unnecessary confusion and may mislead the public," the ministry said.