Rising rupee an opportunity for gold buyers: WGC

The appreciating rupee has opened up an opportunity for gold buyers in the country, as the increase in global prices of the metal is cushioned by almost six percentage points, said Somasundaram P R, managing director of World Gold Council’s (WGC) Indian operations.
 
The global gold prices have increased around 12 per cent in dollar terms since the January but rupee has appreciated almost 6 per cent during the period. Therefore, gold price in the Indian market has not risen sharply or the rise has been capped because cheaper rupee has made import cheaper.
 
“That is a great