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Gold price today in India: Gold declines, FXStreet data show
Data compiled by FXStreet showed that gold prices in India declined on Friday.
At 12,227.85 Indian rupees (INR) per gram, gold was lower than Thursday’s price of INR 12,314.31.
On a per-tola basis, gold slipped from INR 143,631.70 a day earlier to INR 142,623.30.
Measurement Unit | Gold Price (INR) |
|---|---|
1 Gram | 12,227.85 |
10 Grams | 122,278.50 |
Tola | 142,623.30 |
Troy Ounce | 380,339.50 |
To calculate Indian gold prices, FXStreet converts international prices into local currency and measurement units using USD/INR. Daily updates reflect market rates at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold: Key Questions Answered
Widely used both to store value and as a medium 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, as such, a good investment during periods of turmoil. Because it is not dependent on any particular issuer or government, gold is also commonly viewed as a hedge against inflation and currency depreciation.
The largest holders of gold are central banks. To underpin their currencies during unsettled periods, they typically diversify reserves and purchase gold, helping to strengthen perceptions of their economies and currencies. Substantial gold reserves can also bolster confidence in a country’s solvency. World Gold Council data show that central banks increased their reserves by 1,136 tonnes of gold in 2022, valued at around $70 billion. No larger annual purchase has been recorded 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 has an inverse relationship with each. A weaker Dollar generally coincides with a rise in gold, allowing investors and central banks to diversify their holdings during turbulent periods. Risk assets also tend to move in the opposite direction to gold. Stock market gains typically put pressure on the gold price, whereas selling in riskier markets tends to support the precious metal.
A broad range of influences can shift the gold price. Its safe-haven appeal means geopolitical turmoil or concerns about a severe recession can trigger a rapid rise. Since gold offers no yield, lower interest rates tend to support it, while higher borrowing costs usually weigh on the precious metal. Nevertheless, the behaviour of the US Dollar (USD) drives most price movements, as gold is quoted in dollars (XAU/USD). Dollar strength generally restrains gold prices; a weaker Dollar, by contrast, is likely to lift them.
(This post was created with the help of an automation tool.)
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