12/05/2026
India’s Prime Minister has urged citizens to stop buying gold for a year, alongside requests to cut fuel use, reduce foreign travel, and conserve foreign exchange. This is not just a story about jewellery demand. It is a signal of currency pressure, energy vulnerability, and government discomfort when households protect themselves outside the banking system.
India’s Prime Minister has urged citizens to stop buying gold for a year.Why?Because India is facing a mounting foreign-exchange squeeze, rising oil import c...