India Gold price today: FXStreet data shows a decline in Gold

Gold traded lower in India on Thursday, with the decline reflected in data compiled by FXStreet.

At 12,407.10 Indian Rupees (INR) per gram, Gold was priced below Wednesday’s level of INR 12,561.63.

On a per-tola basis, Gold slipped from INR 146,516.50 a day earlier to INR 144,714.00.

Measurement Unit	Gold Rate in INR
1 Gram	12,407.10
10 Grams	124,073.90
Tola	144,714.00
Troy Ounce	385,904.20

To calculate Gold prices in India, FXStreet converts international prices using USD/INR and adjusts them to local measurement units. The daily update uses market rates available at the time of publication. Prices are just for reference and local rates could diverge slightly.

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Gold: Frequently Asked Questions

What makes Gold attractive to investors?

Widely used both to preserve wealth and facilitate exchange, Gold has held an important place throughout human history. Beyond its lustre and use in jewellery, the precious metal is now broadly regarded as a safe-haven asset: an investment considered suitable during periods of turmoil. Its independence from any particular issuer or government also underpins Gold’s widespread appeal as a hedge against inflation and currency depreciation.

Which buyers account for the largest Gold holdings?

The largest holders of Gold are central banks. To support their currencies during unsettled periods, they typically diversify reserves and purchase Gold, helping reinforce perceptions of economic and currency strength. Substantial Gold reserves can also bolster confidence in a country’s solvency. According to World Gold Council data, central banks increased their reserves by 1,136 tonnes of Gold, valued at around $70 billion, in 2022. No higher annual purchase has been recorded since records began. Among emerging economies, central banks in China, India and Turkey are rapidly building their Gold reserves.

How does Gold move relative to other assets?

Both major reserve and safe-haven assets, the US Dollar and US Treasuries tend to move inversely to Gold. A depreciating Dollar generally accompanies gains in Gold, allowing investors and central banks to diversify their holdings during turbulent periods. Risk assets also have an inverse relationship with Gold: stock market advances typically put pressure on the metal’s price, whereas selling in riskier markets tends to support it.

Which factors drive Gold prices?

A broad range of influences can shift Gold prices. Thanks to its safe-haven appeal, the metal can appreciate rapidly when geopolitical instability rises or concerns about a deep recession emerge. Gold pays no yield, so lower interest rates tend to support it, while a higher cost of borrowing generally weighs on the yellow metal. Nevertheless, because Gold is priced in dollars (XAU/USD), the behaviour of the US Dollar (USD) drives most price moves. Dollar strength tends to restrain Gold prices; a softer Dollar, by contrast, is likely to lift them.

(An automation tool was used in creating this post.)