Gold Prices Update in India
As the world’s top investment manager, it is crucial to stay informed about the latest trends in the market. Today, we witnessed a slight dip in Gold prices in India, according to data compiled by FXStreet.
Key Highlights:
- Gold price per gram: 7,161.77 Indian Rupees (INR)
- Decrease from the previous day: INR 7,186.60
- Gold price per tola: INR 83,533.51
- Previous day’s price per tola: INR 83,823.04
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 7,161.77 |
| 10 Grams | 71,617.18 |
| Tola | 83,533.51 |
| Troy Ounce | 222,765.40 |
Insights on Gold Prices:
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 and are provided for reference purposes, as local rates may vary slightly.
Gold FAQs
1. Importance of Gold:
Gold has been a significant asset throughout history, serving as both a store of value and a medium of exchange. Besides its use in jewelry, it is considered a safe-haven investment during turbulent times and a hedge against inflation and depreciating currencies.
2. Central Banks and Gold:
Central banks are major holders of Gold, using it to support their currencies and strengthen economic stability. In 2022, central banks added a record amount of Gold to their reserves, signaling trust in the metal’s value.
3. Gold’s Correlation with the Market:
Gold has an inverse relationship with the US Dollar and US Treasuries, making it an attractive diversification option. Its price can be influenced by geopolitical events, economic conditions, and currency movements.
4. Factors Affecting Gold Prices:
The price of Gold can fluctuate due to various factors such as geopolitical instability, economic conditions, interest rates, and currency movements. Understanding these dynamics is crucial for investors and central banks.
(An automation tool was used in creating this post.)