The Italian coach effectively revealed that los Blancos are hoping to sign the Wales international before the close of the summer transfer window from Tottenham
The 24-year-old winger has been heavily linked with a summer switch to the Santiago Bernabeu, with Spurs chairman Daniel Levy finally caving on Wednesday and agreeing to negotiate over a £100 million deal.
"It's difficult to talk about Bale because he doesn't play for Real Madrid," Ancelotti told reporters in USA on Wednesday. "We'll see what happens; I'm happy with the current squad.
"I have not spoken to Bale. Usually I do not speak to players from other teams.
"The club are looking for a solution in the case of Bale, though there are no new developments with regards to this."
Ancelotti also revealed that Madrid are enjoying a setback-free pre-season to date and is pleased with the increasing fitness in a number of his players, including Xabi Alonso and Kaka.
"We've only had a small problem with [Asier] Illarramendi but today he has begun to run," he added. "The recoveries of Xabi and [Raphael] Varane are going well.
"Kaka is working hard, he is going to improve but we need time because he has to improve his strength and his fitness."
Madrid are in the US to take part in the Guinness Cup, which kicks off for the Blancos with a clash against LA Galaxy at 04:30CET on Friday.