RBI Denies Reports of Selling USD 12 Billion Gold; Official Data Shows Reserves Steady
Bloomberg Economics reported that the Reserve Bank of India (RBI) may have sold gold worth about USD 12 billion in May to protect foreign exchange reserves amid pressures from the Iran-US conflict, rising oil prices, and rupee depreciation. This analysis was based on reserve data showing a decline in gold value despite higher import duties. However, the Indian government, RBI, and the Press Information Bureau (PIB) have denied these claims, stating RBI's physical gold holdings remain unchanged at 880.52 tonnes, with gold's share in forex reserves actually increasing from 13.92% in September 2025 to 16.85% by May 2026. The RBI urged reliance on official data and dismissed the reports as false.
First-hand measurement across 15 sources
We measured how 15 outlets covered this story. Coverage leans balanced overall (Left 7%, Centre 90%, Right 3%). Overall sentiment is neutral (52/100). Lens Score 32/100 — low public interest.
Outlets analysed (first-hand measurement by TBN's Bias Engine):
- oneindia— balanced framing, neutral sentiment
- wion— balanced framing, neutral sentiment
- businessstandard— balanced framing, neutral sentiment
- zeenews— balanced framing, neutral sentiment
- scrollin— balanced framing, neutral sentiment
- english— balanced framing, neutral sentiment
- economictimes— balanced framing, neutral sentiment
- thestatesman— balanced framing, neutral sentiment
AI Analysis
The article group presents two main perspectives: Bloomberg Economics and some media outlets suggesting RBI sold gold to support forex reserves amid geopolitical tensions, and official government and RBI sources denying these claims. The government and RBI responses emphasize transparency and official data, while opposition voices and analysts question the economic situation. Coverage reflects a balance between speculative economic analysis and official denials, with political reactions included but not dominant.
The overall sentiment is mixed but leans toward reassurance. Initial reports implied concern over economic pressures and potential gold sales, which could signal vulnerability. However, official denials and fact-checks provide a corrective tone aimed at calming public and market fears. The coverage includes some political criticism but primarily focuses on clarifying facts, resulting in a predominantly neutral to cautiously positive tone regarding India's reserve stability.