A news report by journalist Sushant Sinha on the RBI’s alleged decision to bring back 100 tonnes of gold stored in an overseas bank has gone viral on social media platforms, with users claiming it to be India’s response to the US imposing a 50% tariff on its exports.
Multiple Facebook and YouTube users shared the video purportedly showing “Modi’s masterstroke against the Trump tariffs.” Newschecker, however, found the news clipping to be old and unrelated to the recent events.
Such posts can be seen here and here.
Fact Check/Verification
A keyword search for “India,” “Trump Tariffs” and “Gold Return” on Google did not yield any recent reports/ official release supporting the viral clip.
We then conducted a reverse image search on the keyframes of the viral clip which directed us to a report by Times Now Navbharat, dated May 31, 2024, stating that 100 tonnes of gold was returned to the RBI from the UK. It featured the now-viral news clip, confirming that it does not show India’s response to the 50% tariffs imposed by the US.
Following this, we searched keywords “RBI,” “100 tonnes gold” and “UK” on Google which threw up multiple reports (seen here, here and here) from May 2024 detailing the same move by the central bank.
Also Read: Fake Amul Ad Mocking Trump Tariffs Shared As Real
“The Reserve bank of India brings back 100 tonnes of Gold from the Vault of UK to India. This is a major shift in the Economic Policy of the RBI, as it will now hold most of its Gold in its own vault. These changes have significant implications for India’s economic sovereignty and global market dynamics. Most countries keep their gold in the vaults of the Bank of England or other such locations and pay a fee for the privileges,” stated a report published by AIR News on May 31, 2024.
The RBI fetched another 102 tonnes of gold from the Bank of England in October 2024 as well. Its gold reverses surged to 879.58 metric tonnes as of March 31, 2025, recording an increase of 57.48 tonnes over the previous year, as per the bank’s annual report.
Conclusion
Hence, the viral posts, alleging that India retrieved 100 tonnes of gold from an overseas bank following US’ imposition of 50% tariffs on its exports, were found to be false.
Sources
YouTube Video By Times Now Navbharat, Dated May 31, 2024
Report By AIR News, Dated May 31, 2024
