Gold price today in India: FXStreet data shows a rise

Monday saw Gold prices advance in India, data compiled by FXStreet showed.

At 12,465.12 Indian Rupees (INR) per gram, Gold was higher than Friday’s INR 12,276.33.

Per tola, Gold climbed from INR 143,188.70 on Friday to INR 145,391.10.

Measurement Unit	Gold Price (INR)
1 Gram	12,465.12
10 Grams	124,651.60
Tola	145,391.10
Troy Ounce	387,706.20

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

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Gold: Key Questions Answered

Gold’s appeal as an investment

Widely used to store value and facilitate exchange, Gold has held an important place throughout 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 its broad appeal as a hedge against inflation and currency depreciation.

Gold’s largest buyers

The largest holders of Gold are central banks. To bolster their currencies during turbulent periods, they typically diversify reserves and purchase Gold, seeking to strengthen perceptions of their economies and currencies. Substantial Gold reserves can reinforce confidence in a country’s solvency. According to the World Gold Council, central banks increased their reserves by 1,136 tonnes of Gold in 2022, worth around $70 billion. No year since records began has seen larger purchases. Emerging-economy central banks, including those in China, India and Turkey, are rapidly expanding their Gold reserves.

Gold’s relationship with other assets

Both the US Dollar and US Treasuries are major reserve and safe-haven assets, and Gold is inversely correlated with them. A depreciating Dollar generally supports Gold, allowing investors and central banks to diversify holdings during turbulent periods. The metal also tends to move in the opposite direction to risk assets. Stock-market gains typically put downward pressure on Gold prices; selling in riskier markets, by contrast, tends to support the precious metal.

Key drivers of Gold prices

A broad range of influences can shift Gold prices. Because the metal is a safe haven, geopolitical turmoil or concerns about 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 downward pressure. The US Dollar (USD) nevertheless drives most price movements, as Gold is quoted in dollars (XAU/USD). Dollar strength tends to restrain Gold prices; a softer Dollar is likely to lift them.

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