India Gold price today: FXStreet data show prices moving higher

Thursday brought higher gold prices in India, data compiled by FXStreet showed.

12,562.22 Indian Rupees (INR) per gram was the price of gold. This was up from INR 12,349.87 on Wednesday.

Per tola, gold advanced to INR 146,522.90, compared with INR 144,051.10 the previous day.

Measurement unit	INR Gold Price
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 and measurement units using USD/INR. Daily updates reflect market rates at the time of publication. These prices are for reference only; local rates may differ slightly.

TMGM Analysis: Financial Market News, Economic Calendar & Market Insights

Gold: Key Questions

Gold’s Investment Appeal

Widely used as both a store of value and a medium of exchange, gold has held a central place in human history. Beyond its lustre and use in jewellery, the precious metal is now widely regarded as a safe-haven asset: an investment considered attractive during periods of turmoil. Its independence from any particular issuer or government also underpins gold’s widespread role as a hedge against inflation and currency depreciation.

Gold’s Largest Buyers

The largest gold holdings belong to central banks. To support their currencies during turbulent periods, they typically diversify reserves and purchase gold, strengthening perceptions of their economies and currencies. Substantial gold reserves can 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, worth around $70 billion. No larger annual purchase has been recorded. Emerging-economy central banks, including those in China, India and Turkey, are rapidly expanding their gold reserves.

Gold’s Links to Other Assets

Both the US Dollar and US Treasuries are major reserve and safe-haven assets, and gold is inversely correlated with them. A declining Dollar typically supports gold, allowing investors and central banks to diversify their assets during turbulent periods. An inverse relationship also exists between gold and risk assets. Stock market gains generally put pressure on gold prices; selling in riskier markets, by contrast, tends to benefit the precious metal.

Gold’s Main Price Drivers

Many factors influence gold prices. Its safe-haven status means geopolitical instability or concerns over a deep recession can trigger rapid gains. Gold pays no yield, so lower interest rates tend to support it, while higher borrowing costs usually exert pressure. Most price movements nevertheless hinge on the US Dollar (USD), as gold is quoted in dollars (XAU/USD). Dollar strength generally restrains gold prices, while a weaker Dollar is likely to lift them.

(An automation tool was used in creating this post.)