Investors thought that gold wouldn’t do well. The post-COVID rally in #cryptos spooked the prospects of gold & added to that conviction. But that conviction has proved to be short-lived, and gold did exceptionally well in 2022. (3/n)
Looking closely, we find that India’s inflation is well controlled, ATH FX reserves have acted well as a shock absorber against volatility, and our GDP growth expectations is one the highest in the world!
Based on the RBI’s assessment, the Real GDP projection is retained at 7.2% for FY23. This comes on the back of strong investment activity, improving bank credit and rising capacity expansion.