RBI Denies Selling 35 Tonnes of Gold, Calls Claims “Unsubstantiated Rumours”
The Reserve Bank of India has officially denied viral social media claims that it sold 35 tonnes of gold from its reserves, labeling the reports as “unsubstantiated rumours.”
Key Takeaways
- RBI confirms no sale of 35 tonnes of gold from reserves
- Central bank warns against unverified social media rumours
- Public advised to rely on official RBI sources for accurate information
In a statement issued through the PIB Fact Check Unit on X (formerly Twitter), the central bank clarified that no such transaction occurred. The RBI urged citizens to depend exclusively on official channels for verified financial updates.
“Reserve Bank of India, through PIB Fact Check Unit, has debunked claims that 35 tonnes of gold have been sold by RBI from its reserves,” the bank stated. “RBI cautions against unsubstantiated rumours on social media. For any information pertaining to RBI, please visit the official website http://rbi.org.in.”
Global Gold Market Context
The clarification emerges during a period of significant volatility in global gold markets. Multiple central banks have been accelerating gold purchases, with emerging economies particularly active in diversifying away from US dollar holdings.
This strategic shift gained momentum following the freezing of Russia’s reserve assets in 2022, pushing gold’s share of total global reserves above 20 percent and reinforcing its reputation as a “sanction-proof” asset.
Analysts note that the current gold price rally also connects to the “debasement trade” theory, which suggests political uncertainty could weaken the dollar and drive inflation, making gold an attractive safe haven. However, recent market data shows both the US dollar and Treasury yields remaining stable, contradicting this narrative.
