You can't buy gold from foreign countries using rupees. You have to pay
for it with the dollar. So when there's a disproportionate demand for gold,
there is a disproportionate demand for the dollar. Everybody rushes to
exchange their rupees dumping it like an ex they never wanted to talk to
and start courting the dollar. The value of the dollar rises and the value
of rupee tumbles. And as the rupee loses its value it becomes more
expensive for us to import other stuff, like oil. Unlike Gold, we actually
need oil. So, it makes sense for us to cut down on gold imports.
Get Gold Intraday tips here and make money like smart traders.
Get Gold Intraday tips here and make money like smart traders.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
