India Gold price today: Prices climb, FXStreet data show

Gold traded higher in India on Monday, data compiled by FXStreet showed.

At 12,247.00 Indian Rupees (INR) per gram, Gold was above Friday’s price of INR 12,198.60.

Per tola, Gold advanced from INR 142,282.10 on Friday to INR 142,848.30.

Measurement Unit	Gold Rate in INR
1 Gram	12,247.00
10 Grams	122,487.70
Tola	142,848.30
Troy Ounce	380,930.90

To calculate Gold prices in India, FXStreet converts international prices using USD/INR and local measurement units. Daily updates reflect market rates 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 value and to facilitate exchange, Gold has held an important place throughout human history. Beyond its lustre and use in jewellery, the precious metal is now widely regarded as a safe-haven asset, or an investment considered favourable during periods of turmoil. Because Gold is not dependent on a particular issuer or government, it is also commonly viewed as protection against inflation and currency depreciation.

Which buyers hold the largest Gold reserves?

The largest holders of Gold are central banks. To underpin their currencies during unsettled periods, they typically diversify reserves and purchase Gold, bolstering perceptions of economic and currency strength. Substantial Gold reserves can reinforce confidence in a country’s solvency. According to World Gold Council data, central banks increased their reserves by 1,136 tonnes of Gold in 2022, worth around $70 billion. No other year since records began has seen purchases this high. Among emerging economies, China, India and Turkey are rapidly expanding their central banks’ Gold reserves.

How does Gold move relative to other assets?

Both the US Dollar and US Treasuries are major reserve and safe-haven assets, and Gold has an inverse correlation with them. A weakening Dollar generally supports Gold, allowing investors and central banks to diversify their holdings during turbulent periods. An inverse relationship also exists between Gold and risk assets: stock market gains typically put pressure on Gold prices, whereas selling in riskier markets tends to benefit the precious metal.

Which factors drive Gold prices?

A broad range of influences can move Gold prices. Its safe-haven appeal means geopolitical instability or concerns over a severe recession can trigger a rapid increase. Gold pays no yield, so lower interest rates generally support it, while a higher cost of borrowing usually puts pressure on the yellow metal. Nevertheless, because Gold is quoted in dollars (XAU/USD), most price movements depend on the performance of the US Dollar (USD). Dollar strength tends to restrain Gold prices; a weaker Dollar, by contrast, is likely to lift them.

(This post was created with the assistance of an automation tool.)