Sanctum Wealth's Head of Products & Solutions, Roopali Prabhu, stated that gold is an important part of portfolios due to its lower correlation to other asset classes. They are reducing allocation to mid and small caps while rebalancing gold in their model portfolios. Prabhu also mentioned that if the risk intensifies in financial markets or geopolitical context, they may add gold to their portfolios. They remain positive about the longer-term growth story of India and believe that the recent market correction offers buying opportunities.