As the world’s best investment manager and financial market journalist, I bring you the latest updates on gold prices in India. According to data compiled by FXStreet, the price of gold in India rose on Friday.
The price for gold now stands at 6,617.76 Indian Rupees (INR) per gram, up from the previous day’s price of INR 6,585.70. Additionally, the price for gold increased to INR 77,189.78 per tola from INR 76,816.43 per tola.
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 6,617.76 |
| 10 Grams | 66,178.64 |
| Tola | 77,189.78 |
| Troy Ounce | 205,835.60 |
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 market rates at the time of publication. Local rates may vary slightly from the referenced prices.
Gold FAQs: Understanding the Precious Metal
Gold FAQs
Gold has played a key role in human history as a store of value and medium of exchange. It is considered a safe-haven asset and a hedge against inflation and depreciating currencies.
Central banks hold significant gold reserves to support their currencies and improve economic strength. Emerging economies like China, India, and Turkey are increasing their gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries. It tends to rise during times of dollar depreciation and market instability.
Gold prices are influenced by factors like geopolitical instability, interest rates, and the strength of the US Dollar. A weak dollar usually pushes gold prices up.
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Analysis:
Gold prices in India have seen an uptick, reflecting the global trend of gold being a sought-after asset in uncertain times. As an investor, understanding the dynamics of gold prices and its role as a safe haven can help you make informed decisions. Central banks’ increasing gold reserves indicate a growing trust in this precious metal. Factors like geopolitical tensions and currency movements can impact gold prices, making it a valuable asset for diversification. Keeping an eye on these trends can help you navigate the financial markets effectively.