The rupee’s decline versus the dollar has put gold prices on a precarious road after their recent unrelenting climb. Due to global uncertainties and slowing local economic growth, it is one of the rare times when all of the rival asset classes—equity, gold, and rupees—are declining. The Indian Bullion and Jewellers Association of India reported that gold prices fell ₹360 per 10 grams on Thursday to ₹74,900.
