Gladbach, sitting in 17th place on the Bundesliga table, are seeking a new coach after the dismissal of Gerardo Seoane.
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The German media have been reporting Raul has been offered to Gladbach as a readymade replacement.
But his agents Gines Carvajal and Alexis Portselis have denied the reports.
A statement released to Sky Deutschland, read: "We cannot confirm the reports from Sport-Bild and Transfermarkt and can announce that we have not offered Raúl to Mönchengladbach.
"These reports are not true."
Significantly, Raul's reps did not shut the door on speaking with Gladbach about the vacant post.
