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PM Modi Urges Indians to “Not Buy Gold” for One Year Amid West ...
Gold has always been India’s emotional safe haven — especially during uncertain times. But against the backdrop of surging global crude oil prices, the West Asian crisis and mounting pressure on import-dependent economies, Prime Minister Narendra Modi has made a rare request of the country: don’t buy gold jewellery for one year.The appeal, made at a public function in Hyderabad on May 10, comes when gold prices are already near record highs and India’s import bill is ballooning on the back of high crude prices and geopolitical disruptions. For millions of Indian families planning for weddings or festive shopping, the message strikes a raw nerve of deep-seated cultural and financial tradition.Calling it a matter of “national responsibility,” PM Modi urged citizens to voluntarily pause gold purchases and reduce non-essential foreign exchange outflows to help India navigate global volatility. You Might Be Interested In #WATCH | Secunderabad, Telangana | On the impact of West Asia conflict, Prime Minister Narendra Modi says, “… Gold purchases are another area where foreign exchange is used extensively… In the national interest, we must resolve not to purchase gold for a year, no matter how… https://t.co/lNWTmHlf4q pic.twitter.com/konOsJ7Okp — ANI (@ANI) May 10, 2026 Why Did PM Modi Ask Indians To Stop Buying Gold?Addressing a BJP rally in Hyderabad, PM Modi made the appeal in direct reference to the ongoing West Asia conflict and the pressure it is putting on India’s economy through higher oil prices, disruptions in supply chains and rising dollar outflows.PM Modi recalled how people once donated gold to help the country in difficult times and said that though such donations are not needed now, people should voluntarily refrain from buying gold jewellery for the greater national interest.The Prime Minister underlined the need for India to conserve its foreign exchange reserves in a period when crude oil and fertiliser prices are rising globally.“We need to save foreign exchange by any means. I would request the countrymen to postpone foreign tours and cut down on fuel consumption,” PM Modi said.The broader message was positioned as a form of “economic patriotism”, where citizens collectively contribute toward protecting the economy during a period of global uncertainty.Gold imports and prices are in focus after PM Modi urged citizens to avoid buying gold for a year amid global uncertainty.Why Do Gold Imports Matter So Much To India?India is among the world’s...
PM #Modi has urged Indians to avoid buying #gold for a year. But ...
2 hours ago ... PM #Modi has urged Indians to avoid buying #gold for a year. But why is #gold at the centre of economic concerns? Here's what's driving the appeal....
PM Modi calls for pandemic-era austerity drive - The Economic Times
5 hours ago ... Modi said Indians should conserve foreign exchange reserves by avoiding the purchase of non-essential gold for a year and refrain from holidaying abroad for ...
On the impact of West Asia conflict, Prime Minister Narendra Modi ...
8 hours ago ... In the national interest, we must resolve not to purchase gold for a year, no matter how many functions we have scheduled at home..."
