Finance Minister Explains Rise in Global Gold Prices
Finance Minister Explains Rise in Gold Prices After RBI Board Meeting
Union Finance Minister Nirmala Sitharaman on Monday addressed concerns over the recent rise in gold prices, stating that large-scale purchases by central banks across the world have contributed to the upward movement. She spoke to the media in Delhi after attending the Reserve Bank of India Central Board meeting.
The Minister indicated that global financial trends have played a role in strengthening gold prices. The government and monetary authorities are monitoring developments closely in the context of broader economic stability.
Gold and Silver Imports Not at Alarming Levels
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Nirmala Sitharaman clarified that imports of gold and silver are not currently at worrying levels. She said the Reserve Bank of India continues to track the situation regularly and remains attentive to changes in global commodity patterns and domestic market behaviour.
The statement comes amid ongoing discussions around precious metal demand and its potential impact on the country’s external balance and currency dynamics. Authorities are maintaining oversight while assessing the evolving international environment.
Assessment of US Tariff Changes Premature
The Finance Minister also referred to recent changes in tariffs imposed by the United States, stating that it would be too early to draw conclusions about their impact on the Indian economy. She noted that a careful evaluation would require more time as global trade adjustments continue to unfold.
Her remarks highlight the government’s cautious approach toward external economic developments and underline the need for measured assessment before determining policy implications.
