India Gold price today: FXStreet data shows a decline in Gold prices

Gold traded lower in India on Tuesday, with the decline reflected in figures compiled by FXStreet.

At 11,956.81 Indian Rupees (INR) per gram, Gold was cheaper than Monday’s price of INR 12,019.10.

Per tola, Gold slipped from INR 140,188.40 a day earlier to INR 139,458.00.

Measurement Unit	INR Price of Gold
1 Gram	11,956.81
10 Grams	119,556.40
Tola	139,458.00
Troy Ounce	371,898.70

To calculate Gold prices in India, FXStreet converts international prices (USD/INR) into the local currency and measurement units. Daily updates use market rates recorded at the time of publication. Prices are just for reference and local rates could diverge slightly.

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Common Questions About Gold

What makes Gold an investment choice?

As both a store of value and 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, or a sound investment during periods of turmoil. Because it is not dependent on any particular issuer or government, Gold is also widely viewed as a hedge against inflation and currency depreciation.

Which buyers hold the most Gold?

The largest holders of Gold are central banks. To support their currencies during unsettled periods, they typically diversify their reserves and purchase Gold, reinforcing perceptions of economic and currency strength. Substantial Gold reserves can bolster confidence in a country’s solvency. According to World Gold Council data, central banks expanded their reserves by 1,136 tonnes of Gold, valued at around $70 billion, in 2022. No year since records began has seen larger purchases. Emerging economies, including China, India and Turkey, are seeing their central banks rapidly build up Gold reserves.

How does Gold move relative to other assets?

Both major reserve assets and safe havens, the US Dollar and US Treasuries have an inverse correlation with Gold. A depreciating Dollar generally accompanies a rise in Gold, giving investors and central banks a way 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 Gold prices, whereas selling in riskier markets generally benefits the precious metal.

Which factors influence Gold prices?

A broad range of influences can drive Gold prices. Its safe-haven appeal means geopolitical turmoil or concerns over a deep recession can trigger a rapid rise. Lower interest rates tend to support Gold because it offers no yield, while a higher cost of borrowing usually puts pressure on the yellow metal. Most price movements, however, hinge on the performance of the US Dollar (USD), since Gold is priced in dollars (XAU/USD). Dollar strength generally restrains Gold prices; a softer Dollar, by contrast, is likely to lift them.

(This post was created with the help of an automation tool.)