Indian central bank denies media report of $12 billion gold reserve sales

From kitco.com

One day after a bombshell report from Bloomberg claimed the Reserve Bank of India (RBI) sold gold reserves worth roughly $12 billion in the two weeks through May 22, the central bank issued a firm denial. The RBI said in a statement on Wednesday that its physical stocks ​of the precious metal remain unchanged at 880.52 tonnes. "The ​Reserve Bank of India (RBI) has come across reports in ⁠certain sections of the media about RBI’s sale of gold," the central ​bank said. “​The RBI emphasizes that these reports are not correct.” India's Press ​Information Bureau also called the media report "fake" in a post on X, ... (full story)