India Gold Demand Stays Down on Volatile Rupee

Reuters reported that Indian buyers are still shying away from gold buying as the rupee remains volatile.

As quoted in the market news:

The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal. It gained as much as 55.73 to the dollar, after having hit a record low of 56.52 earlier in the session.

Click here to read the full Reuters report.