Why Gold Prices Are Climbing? FM Sitharaman Breaks Silence

Finance Minister Nirmala Sitharaman, speaking after the Post-Budget Meet, addressed concerns over the recent surge in gold and silver prices. She highlighted that India remains heavily dependent on imported gold, as domestic production is currently insufficient to meet demand. Sitharaman noted that gold has traditionally been a preferred investment choice for Indian households both as an asset class and for cultural purposes. While prices are being closely monitored, she said the situation has not yet reached alarming levels. She also mentioned that the Reserve Bank of India (RBI) is keeping a watch on the developments. Globally, she observed, many central banks are increasing their gold and silver reserves, which is influencing market trends.