Branch2 Intelligence
PM Modi Appeal Impact: Gold Import Growth Down Substantially In May
Key takeaway
PM Modi's moral suasion cut gold import growth sharply in May 2025, reversing the FY27 surge.
- Step 11st-order: PM Modi's moral suasion reduces gold demand in India.
- Step 22nd-order: Lower gold imports improve India's current account deficit and support the rupee.
- Step 33rd-order: A stronger INR and lower global gold demand pressure reduce gold prices in GBP terms for UK SMEs.
Source: IN:NDTV Profit
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