This is what could keep gold going
The Indian rupee continues to hit new lows, having seen the US dollar climb against it 25%, from 54.76 rupees to 68.80. This can have long-term effects on a wide range of investments, particularly gold.
What's moving the rupee now and how does relate to assets like US stocks and gold?
CNBC contributor Kathy Lien, Managing Director of FX Strategy at BK Asset Management, talks with Talking Numbers about what's driving the Indian rupee. According to Lien, there are three main factors moving the price of the rupee and one of the main reasons comes right from the United States.
As well, India is one of the biggest consumers of gold and the rupee's depreciation may affect demand for gold. Recently, the Indian government implemented curbs on the importation of physical gold as panicked Indian investors seek alternatives to their falling currency.
What levels should gold investors be aware of? On the charts is Mark Newton, Chief Technical Analyst at Greywollf Execution Partners. He says India will play a part in the next couple of months in gold and he gives the reason why.
To see more of Kathy Lien's take on what's moving the rupee and Mark Newton's technical analysis of gold, watch the video above.