As the world’s top investment manager and financial market journalist, I bring you the latest update on gold prices in India. According to data compiled by FXStreet, the price for Gold in India fell on Friday.
The current price for Gold is at 6,537.35 Indian Rupees (INR) per gram, a decrease from the previous day’s price of INR 6,547.98.
Furthermore, the price for Gold per tola also saw a decline, dropping to INR 76,252.54 from the previous day’s price of INR 76,374.31.
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 6,537.35 |
| 10 Grams | 65,375.36 |
| Tola | 76,252.54 |
| Troy Ounce | 203,335.20 |
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. Please note that prices are for reference purposes only and local rates may vary slightly.
Gold FAQs
Gold has always been a significant asset throughout history, serving as a store of value and medium of exchange. In today’s world, it is considered a safe-haven asset, making it a valuable investment during uncertain times. Gold also acts as a hedge against inflation and depreciating currencies, as it is not reliant on any specific issuer or government.
Central banks are the largest holders of Gold, using it to strengthen their reserves and boost confidence in their economy and currency. In 2022, central banks added a record amount of Gold to their reserves, signaling a trend towards increasing Gold holdings for emerging economies like China, India, and Turkey.
Gold often has an inverse relationship with the US Dollar and US Treasuries, major reserve assets. When the Dollar weakens, Gold prices tend to rise, providing a diversification option for investors. Geopolitical events, economic stability, and market fluctuations can all impact the price of Gold, making it a dynamic asset to watch.
As an expert in the financial markets, I can analyze these trends and provide insights for investors looking to navigate the world of Gold investments. Stay informed and make wise decisions to secure your financial future.
(An automation tool was used in creating this post.)