Overview
- After a post‑Budget RBI board meeting on Feb 23, Finance Minister Nirmala Sitharaman and RBI Governor Sanjay Malhotra said the rise in precious‑metal prices is being tracked closely but is not alarming.
- Sitharaman noted India is largely import‑dependent for gold and said household buying follows festival‑linked seasonality that has not breached usual limits.
- RBI data show gold import values were roughly flat at about $49–50 billion in April–December 2025, with a sudden January jump in both value and volume now under analysis.
- Market pressure remains elevated, with reports noting MCX gold futures near ₹1,60,000 per 10 grams as investors seek safe‑haven exposure.
- Malhotra said the external position is robust, projecting the current‑account deficit near 1% of GDP and affirming sufficient liquidity for productive credit needs.