India's Prime Minister Modi has called on citizens to stop buying gold jewellery for one year to help protect the country's trade balance amid higher oil import costs related to tensions with Iran. The move could significantly impact India's $100 billion gold industry.

New York Times

Al Jazeera

France 24

Narendra #Modi's message to Indians is clear: stop buying gold jewellery for a year. With #India having to pay more to import #oil due to the #Iranwar, its prime minister hopes that holding off on buying the precious metal will protect the country's trade balance - a decision that could badly hit a nearly $100 billion industry.