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Slumping rupee pushes up gold prices in India

Monetary authorities fret that year-end demand could put more pressure on rupee

Although gold prices are down internationally, compared with the end of 2017, they are higher in India, the world's second-largest consumer, due to a sharp fall in the rupee.   © Reuters

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.

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