Tue, Jan 27, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Currencies more

India’s currency crisis sees gold soar

Posted on 09 September 2013

Gold denominated in Indian rupees just skyrocketed up near record highs, a far cry from recent dollar-gold action. Much of this extraordinary rally was fueled by the near-collapse of the Indian currency to new record lows against the US dollar. India’s deepening currency crisis has major implications for domestic gold demand and thus global gold prices. Nothing ignites gold buying like a collapsing currency.
Indians’ deep cultural affinity for gold is legendary. For decades it was the world’s biggest consumer of gold, although China is overtaking it now………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 38958 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
January 2015
S M T W T F S
« Dec    
 123
45678910
11121314151617
18192021222324
25262728293031