India Gold price today: FXStreet data shows Gold prices holding steady

Gold traded largely flat in India on Tuesday, with data compiled by FXStreet showing little change in prices.

At 12,310.14 Indian Rupees (INR) per gram, gold was little changed from Monday’s price of INR 12,299.84.

On a per-tola basis, gold held broadly steady at INR 143,584.20, compared with INR 143,462.90 the previous day.

Measurement unit	Gold Rate in INR
1 Gram	12,310.14
10 Grams	123,103.30
Tola	143,584.20
Troy Ounce	382,901.40

To determine gold prices in India, FXStreet converts international prices into the local currency using USD/INR and adjusts for local measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.

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Gold: Frequently Asked Questions

What makes gold an investment choice?

Widely used both to preserve value and to facilitate exchange, gold has held an important place throughout human history. Beyond its lustre and use in jewellery, the precious metal is now commonly regarded as a safe-haven asset, or a favourable investment during periods of turmoil. Its independence from any particular issuer or government also underpins its widespread appeal as a hedge against inflation and currency depreciation.

Which buyers account for the largest gold holdings?

The largest holders of gold are central banks. To bolster their currencies during unsettled periods, they typically diversify reserves and purchase gold, strengthening perceptions of their economies and currencies. Substantial gold reserves can inspire 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-economy central banks, including those of China, India and Turkey, are rapidly building their gold reserves.

How does gold move in relation to other assets?

Both the US Dollar and US Treasuries are major reserve assets and safe havens, and gold tends to move inversely to them. A decline in the Dollar generally supports gold, allowing investors and central banks to diversify their holdings during turbulent periods. The metal also has an inverse relationship with risk assets: stock-market gains tend to put pressure on gold prices, whereas selling in riskier markets generally supports the precious metal.

Which factors influence gold prices?

A broad range of influences can drive movements in gold prices. Its safe-haven appeal means geopolitical turmoil or concerns over a severe recession can trigger a rapid rise. Since gold offers no yield, lower interest rates generally support it, while a higher cost of borrowing usually puts pressure on the yellow 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, while a weaker Dollar is likely to lift them.

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