India Gold price today: Gold rises, according to FXStreet data

Unit measure	Gold Price in INR
1 Gram	11,026.96
10 Grams	110,269.90
Tola	128,617.30
Troy Ounce	342,984.80

Daily market movers: Gold underpinned by falling US yields, Dollar

Bullion prices advance as the Greenback edges down, as shown by the US Dollar Index (DXY). DXY, which tracks the buck’s value against a basket of six currencies, is down 0.27% at 97.91.
US Treasury yields are falling, with the 10-year Treasury note down three bps at 4.141%. US real yields—calculated by subtracting inflation expectations from the nominal yield—, which correlate inversely to Gold prices, drop three and a half basis points to 1.761%.
Second-tier data in the US revealed that Pending Home Sales improved in August, rising by 4% MoM, up from an upwardly revised -0.3% contraction in July and above forecasts of a 0.3% expansion.
Bloomberg revealed that Switzerland has offered to invest in the US gold-refining industry, as part of its efforts to persuade the Trump administration to lower the 39% import tariff imposed last month.
Last week’s US core Personal Consumption Expenditures (PCE) Price Index for August was aligned with estimates, reinforcing the chances for further easing by the Fed.
Investors now see an 89% probability of a 25 bps rate cut in October versus a slim chance of 11% for a 50 bps cut, according to Prime Market Terminal interest rate probability tool.

FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and 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 FAQs

Why do people invest in Gold?

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Who buys the most Gold?

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

How is Gold correlated with other assets?

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

What does the price of Gold depend on?

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

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

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