New Delhi, Oct. 18 -- The Indian economy is in a strange spot, expected to register high growth but also vulnerable to multiple eddying currents emerging from within and outside its borders. The impact of these multiple influences-geopolitical, trade, economic, monetary or social-could see some trying times in the months ahead.

The Indian economy has displayed some resilience in the past and international agencies expect growth to retain buoyancy. Yet, questions are being raised whether the economy can truly weather the coming storm, especially since a procession of structural weaknesses and faultlines have queued up.

One minor but overlooked problem sums up the quandary in store: growing household investment in gold and silver, signify...