Gold Prices in India: A Comprehensive Analysis
As the world’s top investment manager, it is crucial to stay informed about the latest trends in the financial market. Today, we focus on the rising gold prices in India, a key indicator of economic stability and investor sentiment.
Current Gold Prices
According to data compiled by FXStreet, the price for Gold in India stood at 7,188.75 Indian Rupees (INR) per gram on Friday, up from the previous day’s price of INR 7,170.18. The price for Gold per tola also increased to INR 83,848.18 from INR 83,631.55.
Unit Measure Comparison
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 7,188.75 |
| 10 Grams | 71,887.51 |
| Tola | 83,848.18 |
| Troy Ounce | 223,595.30 |
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. Prices are just for reference and local rates could diverge slightly.
Gold FAQs
As an award-winning financial journalist, it is essential to provide valuable insights into the world of gold investments. Here are some frequently asked questions about Gold:
- Historical Significance: Gold has played a key role in human history as a store of value and a medium of exchange. It is considered a safe-haven asset during turbulent times and a hedge against inflation and depreciating currencies.
- Central Bank Holdings: Central banks are the largest holders of Gold, with emerging economies like China, India, and Turkey rapidly increasing their reserves to strengthen their economies.
- Correlation with US Dollar: Gold has an inverse relationship with the US Dollar and US Treasuries, making it a popular choice for diversifying assets in times of economic uncertainty.
- Price Factors: Geopolitical instability, economic recessions, and interest rate movements can all influence the price of Gold, with the US Dollar playing a significant role in determining its value.
(An automation tool was used in creating this post.)