The Reserve Bank of India has denied a report that it is selling gold, citing data showing that its actual gold reserves have not changed.
The latest data in the Reserve Bank of India's (central bank) monthly bulletin showed that physical gold stocks held steady at 880.52 metric tons during April, according to Bloomberg News.
A statement issued by the Reserve Bank of India said that gold stocks have remained at this level so far.
In a separate context, the Indian government's media office said in a post on the X platform that the share of gold in India's foreign exchange reserves rose to 16.7 percent by March 31, compared to about 14 percent at the end of September.
Bloomberg Economics had suggested in a report released Tuesday that the central bank sold about $12 billion worth of gold reserves during the two weeks ending May 22, while buying $7.5 billion worth of foreign currency assets.
