Did India Sell 35 Tons Of Gold? RBI Says No
NEW DELHI- The Reserve Bank of India (RBI) on November 7 was forced to officially deny reports that went viral and has been reported by a section of the media that it had dumped 35 tons of gold from its reserves, to stabilize the Indian economy. It labeled the claims as “unsubstantiated rumors.”
The RBI stressed that no such transaction occurred and advised the public to depend solely on official sources for validated information.
This rebuttal comes amidst significant global attention and market volatility surrounding gold, particularly as several large central banks are increasing their gold purchases.
A notable trend involves emerging market economies boosting their gold holdings to diversify away from the US dollar, a move accelerated following the freezing of Russia’s reserve assets in 2022. This strategic accumulation has elevated gold’s proportion in total global reserves to over 20 per cent, cementing its role as a “sanction-proof” store of value.
Analysts have also connected the current rally in gold prices to the “debasement trade”—the theory that political uncertainty might weaken the dollar and trigger inflation, thereby pushing investors toward gold as a safe asset. However, recent market figures indicate that both the US dollar and Treasury yields have remained steady, which contradicts the expectation of a weakening currency environment. (IANS)
Natarajan Sivsubramanian
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whether section of the media in india or western countries usa uk etc who made that kind of rumour which gOI and RBI officials refuted
when BRICS countries are conspiring a plot to indulge in “de-dollarization” which should down the market price of u s dollar
on the contrary dollar to indian rupees ratio is widening month after month it keep increasing and going up and up and up. it is skyrocketing
why indian currency’s international market value is not going up while all other countries’ currencies are maintaining their currency ratio
with u s dollar. i have been monitoring the foreign currency prices every year from 1967 onwards when i made my maiden international
travel BOM/BEY/FCO(Rome)/GVA/PRG/PAR(ORLY)/LHR/JFK/YYZ/YUL in November 1967. day before my departure from santacruz
airport which is no domestic airport, the dollar to rupee exch rate was rs. 4.65. the then finance minister mr sachin chaudhury of the
congress govt (he does not belong to congress party) had devalued the price of indian rupees in relation to u s dollar and that resulted
in the increase price of u s dollar for Rs. 7.50. thereafter indian rupees started losing its international value. it is due to the
faulty economic policies of the finance minister and the reserve bank governor. i am contacting mr Raghuram Rajan who was the
governor of RBI who is teaching economics in chicago, and trying to get his opinion for this chaotic condition of indian rupees
in international market. a former governor of RBI, mr patel was asked to withdraw from the reserve funds in the amount of
several thousands of crores of rupees by the current prime minister and the former governor was reluctant to part with the money
from the RBi treasury and he finally refused to release the requested amount and tendered his resignation letter.
later the subsequent government governor (he is an “yes” man) released such huge amount to finance ministry god alone knows
where that bulk amount has gone. i presume that govt has pumped those moneys (infusion) into nationalized banks for granting
loans to industrial and corporate houses of their choice and to borrowers who support the ruling party. besides ruling party
is selling several public sector undertakings to certain vested interests and coteries and infusing such sale proceeds
into the nationalised banks again for granting loans to borrowers like mallya, nirav mody, anil, etc without any collateral security
this is called “crony capitalism”
the country’s “non performing assets” (NPAs) are mounting up and up and up year after year
the total amount looted by borrowers of indian origin is much much greater than the amount looted and plundered by
british colonial people during their regime in india
in this condition how the country;s currency can stabilize in the international market. it will never.
November 7, 2025