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India Gold price today: FXStreet data show Gold prices falling
Data compiled by FXStreet showed a decline in gold prices in India on Thursday.
At 12,407.10 Indian rupees (INR) per gram, gold was lower than Wednesday’s price of INR 12,561.63.
Per tola, gold slipped from INR 146,516.50 a day earlier to INR 144,714.00.
Unit of Measurement | Gold Price (INR) |
|---|---|
1 Gram | 12,407.10 |
10 Grams | 124,073.90 |
Tola | 144,714.00 |
Troy Ounce | 385,904.20 |
To calculate gold prices in India, FXStreet adjusts international prices (USD/INR) for the local currency and units of measurement. Daily updates use market rates recorded at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold: Frequently Asked Questions
Widely used both to preserve wealth and as a means of exchange, gold has held an important place throughout human history. Beyond its lustre and use in jewellery, the precious metal is now broadly regarded as a safe-haven asset: an investment considered attractive during periods of turmoil. Its independence from any particular issuer or government also underpins its widespread reputation as a hedge against inflation and currency depreciation.
The largest holders of gold are central banks. To support their currencies during unsettled periods, they typically diversify reserves and purchase gold, seeking to strengthen perceptions of their economies and currencies. Substantial gold reserves can bolster confidence in a country’s solvency. World Gold Council data show that central banks increased their reserves by 1,136 tonnes of gold, worth around $70 billion, in 2022. That represented the largest annual purchase since records began. Emerging-economy central banks, including those in China, India and Turkey, are rapidly expanding their gold reserves.
Both the US Dollar and US Treasuries are major reserve and safe-haven assets, and gold is inversely correlated with them. A weaker Dollar generally accompanies a rise in gold, allowing investors and central banks to diversify their holdings during turbulent periods. An inverse relationship also exists between gold and risk assets: rising stock markets tend to put pressure on gold prices, whereas selling in riskier markets generally benefits the precious metal.
Numerous factors can influence gold prices. Its safe-haven appeal means geopolitical turmoil or concerns about a deep recession can trigger a rapid increase. Gold pays no yield, so lower interest rates tend to support it, while a higher cost of borrowing generally weighs on the precious metal. Most price movements nevertheless hinge on the performance of the US Dollar (USD), since gold is quoted in dollars (XAU/USD). Dollar strength tends to restrain gold prices; a weaker Dollar, by contrast, is likely to lift them.
(An automation tool was used in creating this post.)
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