Planning Commission deputy chairman Montek Singh Ahluwalia says, declining gold and crude oil prices will have a favourable impact on the country's macro-economic parameters especially the current account deficit.This deficit rose to all-time high level of 6.7 per cent for the quarter ended December 2012.Falling for the third day in succession, gold prices on Tuesday plunged by 1,160 rupees per 10 grams to 21-month low at 26,440 rupees. It has now lost a whopping 3,160 rupees per 10 grams in the last three trading sessions.Gold prices had touched an all-time high of 32,975 rupees per ten gms on November 27,last year. Crude oil prices also tumbled in Asia with Brent falling below 100 dollars a barrel.
News On AIR | April 17, 2013 11:30 AM
Falling gold & crude prices will favourably impact CAD: Montek