Gold Prices Rising Due to Global Central Bank Purchases: Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman stated that the recent surge in gold prices is primarily driven by large-scale purchases by central banks across the world. Speaking to the media after the Reserve Bank of India (RBI) Central Board meeting, she explained that global demand from monetary authorities has significantly influenced bullion prices in international markets.

The Finance Minister clarified that gold and silver imports into India are not at alarming levels and assured that the RBI is continuously monitoring developments in the precious metals market. She also noted that it would be premature to assess the impact of recent changes in United States tariff policies on the Indian economy, adding that the situation requires careful observation over time.