On Monday, gold prices in India saw an increase, according to information gathered by FXStreet.
The price for gold reached INR 12,044.49 per gram, which is up from INR 12,006.87 last Friday.
In terms of tola, the price rose to Rs 140,487.90 from Rs 140,045.70.
| unit measurement | Gold price in INR |
|---|---|
| 1 gram | 12,044.49 |
| 10 grams | 120,447.70 |
| tola | 140,487.90 |
| troy ounce | 374,625.80 |
FXStreet determines gold prices in India by adjusting the international price (USD/INR) for local currency and units of measurement. These prices are refreshed daily based on current market rates, so they’re more of a guideline, and local price variations could happen.
Gold FAQ
Gold has been significant throughout history, often seen as a reliable store of value and a way to trade. Nowadays, beyond its beauty and use in jewelry, precious metals are regarded as safe havens—especially during uncertain times. Gold is also thought to provide protection against inflation and depreciation because it isn’t tied to any specific issuer.
Central banks hold the most gold. To enhance their currencies during challenging times, these banks typically buy gold, which helps diversify their foreign reserves and boost economic credibility. For instance, in 2022, central banks added 1,136 tonnes of gold, worth about $70 billion, to their reserves—a record-high annual purchase. Nations like China, India, and Türkiye are notably increasing their gold holdings.
Gold generally moves in the opposite direction to the US dollar and US Treasuries, which are primary safe-haven assets. Typically, gold prices rise when the dollar weakens, allowing investors and banks to balance their portfolios amid turbulence. Additionally, there’s an inverse relationship with riskier assets: as stock markets rise, gold prices may drop, while downturns in stock markets usually benefit gold.
Several factors can influence gold prices. For example, geopolitical tensions and recession fears can rapidly increase gold prices due to its safe-haven reputation. Being a non-yielding asset, gold tends to appreciate when interest rates fall, although rising expenses can pressure prices. Ultimately, much depends on the US dollar’s performance since gold is dollar-priced. A strong dollar tends to hold gold prices down, while a weaker dollar may elevate them.
