Data and statements released on June 2, 2026 showed that published accounts tied the story to wider national and sector coverage. Bloomberg Economics analysis published on June 2, 2026 estimated the Reserve Bank of India may have sold roughly $12 billion of gold in the two weeks through May 22.
Parallel announcements clarified that the report said the RBI simultaneously bought about $7.5 billion of foreign-currency assets during the period. Analyst Abhishek Gupta cited falling reported bullion values despite higher import duties as evidence of possible gold sales.
Separately, the analysis linked the moves to capital outflows, higher oil prices and Middle East conflict pressuring the rupee. The RBI did not immediately comment on the estimates in published reports.
Officials said further steps would follow as reviews continue.
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Sources:
https://timesofindia.indiatimes.com/business/rbi-gold-reserves