India Urges Gold Buying Halt Amid Iran War Energy Crisis

PM Modi appeals to citizens to stop gold purchases and work from home as Iran war drives energy costs up.

India Urges Gold Buying Halt Amid Iran War Energy Crisis

Image: abc.net.au

Indian Prime Minister Narendra Modi has appealed to the country's 1.4 billion citizens to work from home, avoid travel, and stop buying gold, as the ongoing Iran War continues to send energy costs soaring. The call was made on Sunday, May 10, 2026, according to official statements.

Modi urged a return to work-from-home practices and reduced non-essential travel to conserve fuel. He specifically asked citizens to refrain from purchasing gold, a traditional Indian investment, to help stabilize the economy amid rising energy prices linked to the conflict in Iran.

The appeal comes as global oil prices have surged due to disruptions in the Middle East, impacting India's import-dependent economy. No specific legal measures were announced, but the government emphasized voluntary compliance to ease pressure on foreign exchange reserves.

❓ Frequently Asked Questions

Why did Modi ask Indians to stop buying gold?

To help stabilize the economy amid rising energy costs from the Iran War, as gold imports strain foreign exchange reserves.

Is working from home mandatory in India now?

No, it is an appeal for voluntary compliance, not a legal mandate.

How is the Iran War affecting India's energy costs?

The conflict has disrupted Middle East oil supplies, causing global oil prices to surge, which impacts India's import-dependent economy.

📰 Source:
abc.net.au →
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