Rising Gold Prices Under Global Scrutiny: Finance Minister Addresses Concerns
Finance Minister Nirmala Sitharaman attributed rising gold prices to increased global purchases, noting that India's imports surged in January 2025. Despite a billion-dollar year-on-year increase to $50 billion last year, the rise is not yet alarming. Central banks are also buying gold, with India's robust external sector mitigating concerns.
- Country:
- India
Finance Minister Nirmala Sitharaman addressed rising global gold prices on Monday, attributing the surge to significant purchases by central banks worldwide.
During a recent briefing, she assured that while India’s gold imports increased during January, they haven't reached alarming levels due to the country's cultural investment pattern and the Reserve Bank of India's vigilance.
Engaging with the Central Board of the Reserve Bank of India, she emphasized that despite gold import fluctuations, the country's external sector remains strong and the current account deficit manageable.
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