New Delhi, March 8 -- Gold prices in India experienced a decline in February. According to a recent report by the World Gold Council, "a sharp Indian rupee appreciation following tariff relief with the US, saw local prices drop 3.5%."

The report titled "When the dollar turns on itself" states that while gold gained on the international market, local prices in India fell because the Indian rupee became much stronger after a trade agreement with the US.

"Gold gained another 5% in February to reach US$5,222/oz; it is now up 20% y-t-d. Performance in other currencies, however, was mixed: a sharp Indian rupee appreciation following tariff relief with the US, saw local prices drop 3.5%."

The report highlighted that this disconnect between ri...