'Gold prices are rising because central banks are accumulating it': Nirmala Sitharaman | Metals Mine

  • 'Gold prices are rising because central banks are accumulating it': Nirmala Sitharaman

    From msn.com

    Union Finance Minister Nirmala Sitharaman said that aggressive gold accumulation by central banks worldwide is a major factor behind the recent surge in bullion prices, highlighting a structural shift in global reserve strategies. “Gold price spikes because central banks globally are buying a lot of it,” she said while addressing reporters after a meeting of the Central Board of the Reserve Bank of India on February 23. Gold prices continued their upward momentum across domestic and international markets amid escalating geopolitical tensions mainly due to US-Iran developments and renewed tariff threats from US ... (full story)

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