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India Gold price today: FXStreet data show Gold moving higher
Data compiled by FXStreet showed that gold prices in India increased on Friday.
At 11,851.61 Indian Rupees (INR) per gram, gold was higher than Thursday’s price of INR 11,732.83.
On a per-tola basis, gold advanced from INR 136,849.40 a day earlier to INR 138,229.40.
Unit of measurement | Gold price (INR) |
|---|---|
1 Gram | 11,851.61 |
10 Grams | 118,511.40 |
Tola | 138,229.40 |
Troy Ounce | 368,622.90 |
To calculate gold prices in India, FXStreet converts international prices using USD/INR and adjusts them to 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.
Gold: frequently asked questions
Throughout human history, gold’s widespread use as a store of value and a means of exchange has given it an important role. Today, its appeal extends beyond its lustre and use in jewellery: the precious metal is widely regarded as a safe-haven asset and, as such, a sound investment during periods of turbulence. Because it is not dependent on any particular issuer or government, gold is also widely viewed as a hedge against inflation and currency depreciation.
The largest holders of gold are central banks. To shore up 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 bolster confidence in a country’s solvency. According to World Gold Council data, central banks increased their reserves by 1,136 tonnes of gold, valued at around $70 billion, in 2022. No larger annual purchase has been recorded since records began. Emerging-economy central banks, including those in China, India and Turkey, are rapidly expanding their gold reserves.
Both the US Dollar and US Treasuries are major reserve and safe-haven assets, and gold is inversely correlated with them. A weaker Dollar tends to lift gold, allowing investors and central banks to diversify their holdings during turbulent periods. The metal also has an inverse relationship with risk assets: rising share markets generally put pressure on gold prices, while selling in riskier markets tends to support the precious metal.
A broad range of influences can drive changes in gold prices. Its safe-haven role means geopolitical instability or concerns about a deep recession can send prices sharply higher. Gold offers no yield, so lower interest rates tend to support it, whereas more expensive borrowing usually weighs on the metal. Nevertheless, because gold is priced in dollars (XAU/USD), most price movements depend on the performance of the US Dollar (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.)
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