Impact of exchange rate and foreign exchange gold reserve on prices of gold
Keywords:
Exchange Rate, Foreign Exchange Reserve, Recession, InflationAbstract
Gold has maintained its existence in Indian economy since centuries and there is no need for explaining the importance of this yellow metal in Indian culture as this valuable commodity always has a significant economic effect worldwide. This precious metal has marked a land mark upward trend in terms of prices after phase of recession in 2008 and early 2009 in global economy. Gold has emerged as safe haven for investment due to downfall of equity markets in recent years. Beginning of new millennium has witnessed a period where prices of this yellow metal started to climb robustly on a continue basis. Gold has been treated as hedge against inflation and exchange rate fluctuations. In the light of above scenario, this paper has analyzed the impact of exchange rate and foreign exchange reserve on gold prices.
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