The trainer declined to say if the Welsh winger is closer to joining from Spurs, instead highlighting the performances of his youngsters against Inter
Both clubs have reached a stalemate over Bale's prospective €115 million world-record transfer fee, with Spurs coach Andre Villas-Boas being forced to bat away questions about the Welsh winger's future following his side's draw with Espanyol.
Ancelotti, who has already brought on board fresh faces this summer such as Isco and Asier Illarramendi, has stressed he is fully prepared to entrust los Blancos' future to the young players in his squad.
"We're ready to start the season," the 54-year-old told reporters after defeating Inter 3-0 on Saturday. "I'm happy with what I have, why talk about Bale if Morata and Jese played so well today.
"I'm very happy about them, they're very young but they have great ability. The team was tired but the game had been very good.
"We've played well with an offensive style and offered a great image. The last game of the pre-season was a good one, with intensity and good play. We have delivered."
Morata was promoted to Madrid's first-team in 2011 by former coach Jose Mourinho and recently won the golden boot as part of the Spain Under-21's victorious European Championship campaign in June.
Meanwhile, Jese established himself as the club's Castilla star and racked up 22 goals in the Liga Adelante last term, surpassing a record set in 1984 by Bernabeu icon Emilio Butragueno.
Both had been tipped to leave the club in search of playing time under Mourinho's tenure, but Ancelotti opted to confirm them in his first-team squad for the coming season following his appointment.