Mumbai, June 3 -- The Reserve Bank of India (RBI) on Wednesday clarified that it has not sold any gold, rejecting media reports that suggested the central bank had offloaded part of its bullion reserves.

In a statement, the RBI said reports in certain sections of the media regarding the sale of gold by the central bank were "not correct". It added that its physical stock of gold remains unchanged at 880.52 tonnes.

"The physical stock of gold is disclosed by RBI in its Monthly Bulletin, and the physical stock of gold remains unchanged at 880.52 tonnes as on date," the central bank said.

The clarification follows media reports that suggested the RBI may have sold around $12 billion worth of gold reserves during the two weeks ended 22 May...