SINGAPORE -- India's weakening rupee is pushing up the price of gold in local currency terms, raising costs for world's second-largest consumer of the precious metal and putting the currency under pressure.
According to GFMS, a Thomson Reuters research unit, India's gold imports for September slid 14% by volume on the year. Demand typically surges in India toward the end of the year, and market watchers are focused on how that demand will affect the value of the rupee.
