Q. Which of the following commodities are directly affected by the fluctuations in international rates of the crude oil?
Answer: Gold & Silver
Notes: Gold and crude oil process have a direct relationship. The Rupee – Dollar exchange rate forms the basis for movement of Gold and silver process in the country. India is a net importer of crude oil. Whenever there is an increase in crude oil price at the international market, the demand for USD increased and hence leads to Rupee value depreciation against USD. Under this scenario, the import of gold and silver becomes costlier and hence prices of gold move up.
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