Divya Delhi: Last week, gold prices kept rising. Over the course of a week, the price of 22-carat gold increased by Rs 2,910 per 10 kilos, while the price of 24-carat gold increased by Rs 3,180 per 10 grams. The increasing Indo-Pak confrontation, which made headlines last week, was blamed for the spike. However, former Indian Finance Secretary and World Bank Executive Director Subhash Chandra Garg stated in an exclusive interview with News24's Akshat Mittal that "these kinds of conflicts are not driving gold prices." He also described the elements that affect the yellow metal's price. He claimed that central bank purchases, which have increased over the past two to three years, are what are primarily driving gold rates. Prices have gone up as a result, in part due to Americans, Russians, and others seizing foreign exchange reserves. So, the question is: why should you hold all of your reserves in US dollars? And where do you keep them if not there? Here, one of the options is gold. Because gold is always cashable or convertible into foreign currency, keep your reserves in this asset.