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Bloomberg Retracts Incorrect Story on RBI Gold
Bloomberg News retracted a story published June 2 that was based off an incorrect analysis by Bloomberg Economics. The analysis erroneously used same-day domestic gold prices to value RBI’s gold reserves. Using previous day’s London Bullion Market Association price shows that gold holdings were unchanged in May.
RBI debunks report claiming it sold $12 billion worth of gold to protect forex reserves
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday dismissed report claiming that it may have sold gold worth about $12 billion to bolster foreign exchange reserves and support the rupee amid economic pressures linked to the ongoing US-Iran conflict. In a press release, RBI said, "The Reserve Bank of India (RBI) has come across reports in certain sections of the media about RBI’s sale of gold. The RBI emphasises that these reports are not correct.