Gold Prices in India: An Overview
As the world’s leading investment manager, it is imperative to stay informed about the latest trends in the financial markets. Gold prices in India play a crucial role in the global economy, reflecting both local and international dynamics.
Current Gold Prices in India
According to data compiled by FXStreet, the price for Gold in India stood at 7,180.29 Indian Rupees (INR) per gram on Friday, remaining stable compared to the previous day’s price of INR 7,185.96. Additionally, the price for Gold per tola was broadly steady at INR 83,749.47, slightly lower than the previous day’s price of INR 83,815.65.
Unit Measure Comparison
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 7,180.29 |
| 10 Grams | 71,802.88 |
| Tola | 83,749.47 |
| Troy Ounce | 223,337.10 |
Understanding Gold Prices in India
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. It’s important to note that these prices are updated daily based on market rates at the time of publication and are meant for reference purposes, as local rates may vary slightly.
Gold FAQs
As an award-winning financial journalist, it’s crucial to provide valuable insights into the world of Gold. Here are some frequently asked questions about Gold:
1. The Role of Gold in History and Investment
Gold has been a key player in human history, serving as a store of value and medium of exchange. In today’s world, it is considered a safe-haven asset, offering stability during turbulent times. Gold also acts as a hedge against inflation and depreciating currencies, making it a valuable investment.
2. Central Banks and Gold Reserves
Central banks hold significant amounts of Gold to support their currencies and boost economic stability. In 2022, central banks globally added 1,136 tonnes of Gold to their reserves, the highest yearly purchase on record. This trend is particularly prominent among emerging economies like China, India, and Turkey.
3. Gold’s Correlation with Major Assets
Gold has an inverse relationship with the US Dollar and US Treasuries, serving as a diversification tool during market uncertainties. It also exhibits an inverse correlation with risk assets, with its price influenced by movements in the stock market and other risky investments.
4. Factors Influencing Gold Prices
Various factors can impact Gold prices, including geopolitical instability, economic recessions, and interest rate changes. The price of Gold is closely tied to the performance of the US Dollar, as it is priced in USD. A strong Dollar typically suppresses Gold prices, while a weaker Dollar tends to drive them higher.
(This content was created using an automation tool for efficiency and accuracy.)