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India Gold price today: Gold prices decline, FXStreet data show
Data compiled by FXStreet showed a decline in Gold prices in India on Thursday.
At 12,358.95 Indian Rupees (INR) per gram, Gold was lower than Wednesday’s price of INR 12,453.72.
On a per-tola basis, Gold slipped from INR 145,257.80 the previous day to INR 144,157.90.
Unit of measurement | Gold price (INR) |
|---|---|
1 gram | 12,358.95 |
10 grams | 123,593.00 |
Tola | 144,157.90 |
Troy ounce | 384,404.60 |
To calculate Gold prices in India, FXStreet converts international prices using USD/INR and adjusts them to local measurement units. Daily updates reflect market rates 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 value and as a means of exchange, Gold has held an important place throughout human history. Today, its appeal extends beyond its lustre and use in jewellery: the precious metal is widely regarded as a safe-haven asset and therefore considered a good investment in unsettled times. Because Gold is not dependent on a particular issuer or government, it is also widely viewed as protection against inflation and currency depreciation.
The largest holders of Gold are central banks, which tend to diversify their reserves and purchase the metal to support their currencies during periods of turbulence. These purchases aim to strengthen perceptions of both the economy and the currency. Substantial Gold reserves can bolster confidence in a country’s solvency. According to World Gold Council data, central banks increased their reserves by 1,136 tonnes of Gold in 2022, worth around $70 billion. No larger annual purchase has been recorded since records began. Emerging-economy central banks, including those of 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 weakening Dollar tends to lift Gold, allowing investors and central banks to diversify their holdings during turbulent periods. The metal also has an inverse relationship with risk assets: rising equity markets tend to weigh on Gold prices, whereas selling in riskier markets generally supports the precious metal.
A broad range of influences can drive Gold prices. Its safe-haven appeal means geopolitical unrest or concerns about a severe recession can send prices sharply higher. Gold pays no yield, so lower interest rates tend to support it, while a higher cost of borrowing generally puts pressure on the yellow metal. Nevertheless, with Gold quoted in dollars (XAU/USD), most price movements hinge on the performance of the US Dollar (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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