Gold stocks have fallen after Prime Minister Narendra Modi asked the citizens to refrain from buying gold unless absolutely necessary.
PM Narendra Modi, in a post on Instagram said, "We must embrace the mantra of 'Swadeshi' and 'Vocal for Local.' We should avoid traveling abroad merely for leisure or hosting weddings in foreign lands; instead, we should live by the mantra of 'Weddings in India.' We should also refrain from buying gold unless absolutely necessary.
He added that, "The more we emphasize 'Swadeshi' and self-reliance, the more confident I am that by the time we mark 100 years of independence, we will hand over a 'Viksit Bharat' to our youth. Through our hard work today, we will surely realize the dreams of our younger generation. Let us spare no effort in our endeavors. Our policies are sound, and our intentions are pure. The combined strength of 1.4 billion Indians is uniting to take the nation to new heights. Let us celebrate, make a firm resolve, and march forward together to turn that resolve into reality."
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