Markets Closed (Tue/Fri), Gold & USD:INR trends
Indian markets are closed today on account of Mahavir Jayanti & Id-e-Milad. They will also be closed on Friday due to Ambedkar Jayanti & Good Friday. This is as good an indication of our secularity as any!
Bullion watchers can’t have missed the move in Indian gold prices from ~Rs. 7800 (per 10 gms) to over Rs. 8700 in 3 weeks!
Remember that volatility is part of the game here. There’s also a trend developing in the USD:INR exchange rate:
The rupee has weakened from 44.2 to 44.7 quite rapidly - potential causes include a rise in forex reserves (to over $150B), FII sales in the capital markets, a slowdown in FDI, etc.
Related Posts: