Bloomberg Retracts June 2 RBI Gold Story After Analysis Misvalued Reserves
Updated
Updated · Bloomberg · Jun 4
Bloomberg Retracts June 2 RBI Gold Story After Analysis Misvalued Reserves
3 articles · Updated · Bloomberg · Jun 4
Summary
Bloomberg News withdrew a June 2 report on the Reserve Bank of India’s gold holdings after finding the underlying Bloomberg Economics analysis was wrong.
The error came from valuing RBI reserves with same-day domestic gold prices instead of the previous day’s London Bullion Market Association benchmark.
Using the correct LBMA price shows the central bank’s gold holdings were unchanged in May, reversing the earlier conclusion.