On Friday, gold prices in India experienced a slight decline, as reported by FXStreet. The price of gold was recorded at 6,624.04 Indian Rupees (INR) per gram, down from the previous day’s price of INR 6,631.04. Additionally, the price of gold per tola decreased from INR 77,343.30 to INR 77,260.81.
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 6,624.04 |
| 10 Grams | 66,239.81 |
| Tola | 77,260.81 |
| Troy Ounce | 206,028.50 |
FXStreet calculates gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. These prices are updated daily based on market rates at the time of publication. Please note that prices are for reference only and local rates may vary slightly.
Gold FAQs – Everything You Need to Know
Gold has always been a significant asset throughout history, serving as a store of value and medium of exchange. In today’s world, gold is considered a safe-haven asset, making it a valuable investment during uncertain times. It also acts as a hedge against inflation and depreciating currencies, as it is not tied to any specific issuer or government.
Central banks are major holders of gold, using it to bolster their reserves and enhance the strength of their economies and currencies. In 2022, central banks added a record amount of gold to their reserves, signaling a growing trend, especially among emerging economies like China, India, and Turkey.
Gold’s price movements are closely linked to the US Dollar and US Treasuries, with an inverse correlation observed. Geopolitical tensions, economic instability, and changes in interest rates can all impact gold prices. Additionally, the strength of the US Dollar plays a crucial role in determining the direction of gold prices.
Overall, gold remains a valuable asset for investors and central banks alike, offering stability and diversification in times of market volatility.
(This post was generated using an automation tool.)