Modiji Appealed To Stop Gold Purchase and Oil Consumption

Date: 11.05.2026
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For the past three months, there have been continuous West Asia conflicts that have increased instability and inflation. Gold is caught in this war, and Analyst Ramaswamy said, because of its lucrative appeal with an expected increase to 15 percent from current levels in 2026. Because of a major shift in Central Banks diversifying their portfolio. Gold is a financial umbrella for investors due to increasing global debt, which is acting as a headwind for gold. Gold would showcase bullish continuation and would see an increase in the upcoming weeks, according to Jagad. Modiji has asked Indians to stop gold purchases to reduce the import bill and gain economic stability.

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