Bloomberg withdraws Anti-India article!

False claim that the Reserve Bank of India had sold US$12 Billion worth of Gold

New York, United States – American news agency Bloomberg has withdrawn an Anti-India article published on 2 June. The article had claimed that, against the backdrop of tensions involving Iran, the Reserve Bank of India (RBI) had sold approximately US$12 billion worth of gold in order to strengthen India’s foreign exchange reserves. Citing the US-Iran tensions, the possibility of Brent crude oil prices rising above US$100 per barrel, the depreciation of the rupee to 97 against the US dollar, and capital outflows – the article had put forward the theory that the RBI had sold gold.

🚨 Bloomberg Forced to Withdraw Anti-India Article!

The US news agency falsely claimed that the Reserve Bank of India had sold $12 billion worth of gold.

Following India’s clarification, the report was withdrawn.

Repeated dissemination of misleading reports targeting India’s… pic.twitter.com/5fh3ZdsYzx

— Sanatan Prabhat (@SanatanPrabhat) June 6, 2026

No Reduction in Gold Reserves, says India!

However, the Reserve Bank of India clarified that while there had been minor changes in the valuation of its gold holdings due to fluctuations in market prices, there had been no reduction whatsoever in the physical quantity of gold reserves. The RBI firmly refuted these reports and stated that its physical gold holdings remained unchanged at 880.52 metric tonnes. India has stated that ‘media reports regarding the alleged sale of gold were inaccurate’ and urged citizens to rely only on information released through official sources.

Bloomberg admits claim was based on faulty analysis!

Janet Rodriguez, South Asia Executive Editor at Bloomberg, clarified that the value of the RBI’s gold reserves was calculated using domestic gold prices of the same day in an incorrect manner. In reality, when the reserves are valued using the previous day’s prices published by the London Bullion Market Association, the figures show that India’s gold holdings remained unchanged during May. Consequently, Bloomberg withdrew the article.