Government denies reports of Central Bank selling $12 Billion in Gold

The government has rejected media reports claiming that the central bank sold gold worth $12 billion, with Finance Ministry sources clarifying that the information is incorrect and misleading.

According to official sources, there is no such large-scale gold sale by the central bank, and the reports circulating in some sections of the media are not based on factual data. The clarification comes amid heightened sensitivity in financial markets regarding foreign exchange reserves and gold holdings.

Authorities emphasized that India’s monetary and reserve management policies remain stable and transparent, and any major changes in gold or foreign exchange reserves would be formally communicated through official channels.

The denial aims to curb speculation and prevent unnecessary market volatility triggered by unverified claims regarding central bank operations.