Aug. 20 (Bloomberg) -- Bloomberg's Diana Monteiro reports the market turmoil in India as the rupee hits a record low, with predictions of it falling further. She reports on Bloomberg Television's "On The Move Asia."
Notice that even though gold is down 18.5% in US$ terms YTD because of the plunging Rupee (compared to USD) the INR price for gold is only down 4.7% YTD. Give it a week or two of rising gold prices and falling Rupee the gold price in INR will turn positive for the year.
|chart from goldprice.org|