Forex Flash: The fall in Gold is not bad news for everyone - DBS Group

FXstreet.com (Barcelona) - DBS group analysts note that the fall in gold prices was not necessarily bad news for everyone.

They see that its drag on commodity prices such as oil was seen as a blessing in disguise for India’s fiscal and current account deficits. They write, “With export growth turning positive in India, and helping to rein in its wide trade deficit, expectations emerged that its current account may now start to narrow to below 4% of GDP in the coming fiscal year or two. USD/INR has started to move towards the lower limit of its three-month range between 53.60 and 55.15.”