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Gold price today in India: FXStreet data show prices rising
Data compiled by FXStreet showed that gold prices in India moved higher on Thursday.
At 12,562.22 Indian rupees (INR) per gram, gold was priced above Wednesday’s level of INR 12,349.87.
Per tola, gold climbed from INR 144,051.10 a day earlier to INR 146,522.90.
Unit of measurement | Gold price (INR) |
|---|---|
1 gram | 12,562.22 |
10 grams | 125,619.60 |
Tola | 146,522.90 |
Troy ounce | 390,716.60 |
To calculate gold prices in India, FXStreet converts international prices into local currency using USD/INR and adjusts them to local units of measurement. 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 wealth 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 a sound investment in unsettled periods. 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 periods of turbulence, they typically broaden the mix of their reserves and purchase gold, bolstering perceptions of economic and currency strength. Substantial gold reserves can help inspire 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 higher annual purchase has been recorded since records began. Emerging-economy central banks, including those of China, India and Turkey, are expanding their gold reserves rapidly.
Both the US Dollar and US Treasuries are major reserve and safe-haven assets, and gold is inversely correlated with them. A fall in the dollar tends to be accompanied by a rise in 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 put pressure 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 turmoil or concerns about a severe recession can trigger a rapid price rise. Gold pays no yield, so lower interest rates tend to support it, while a higher cost of borrowing usually puts pressure on the metal. Nevertheless, because gold is 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 softer dollar, by contrast, is likely to lift them.
(This post was created with the help of an automation tool.)
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