Gold price today in India: FXStreet data shows prices holding steady

India’s gold prices were largely flat on Tuesday. The figures were compiled by FXStreet.

At 12,310.14 Indian Rupees (INR) per gram, gold was little changed from Monday’s INR 12,299.84.

Per tola, gold held broadly steady at INR 143,584.20, compared with INR 143,462.90 the previous day.

Measurement Unit	Gold Price (INR)
1 Gram	12,310.14
10 Grams	123,103.30
Tola	143,584.20
Troy Ounce	382,901.40

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: Key Questions

Gold’s Investment Appeal

Widely used as both a store of value and a medium of exchange, gold has held a central place in human history. Beyond its lustre and use in jewellery, the precious metal is now widely regarded as a safe-haven asset: an investment considered attractive during periods of turmoil. Its independence from any particular issuer or government also underpins its widespread use as a hedge against inflation and currency depreciation.

Gold’s Largest Buyers

The largest holders of gold are central banks. To support their currencies during unsettled periods, they typically diversify reserves and purchase gold, reinforcing perceptions of economic and currency strength. Substantial gold reserves can bolster confidence in a country’s solvency. According to the World Gold Council, 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. Emerging-market central banks, including those in China, India and Turkey, are rapidly expanding their gold reserves.

Gold’s Links to Other Assets

Both major reserve and safe-haven assets, the US Dollar and US Treasuries are inversely correlated with gold. Dollar weakness tends to lift gold, allowing investors and central banks to diversify their holdings during turbulent periods. The metal also tends to move in the opposite direction to risk assets. Stock market gains generally put pressure on gold prices; selling in riskier markets, by contrast, usually supports the precious metal.

Gold Price Drivers

A broad range of influences can move gold prices. Its safe-haven appeal means geopolitical instability or concern over a deep recession can trigger a rapid rise. Gold pays no yield, so lower interest rates tend to support it, while higher borrowing costs usually weigh on the metal. Most price movements nevertheless hinge on the US Dollar (USD), since gold is priced in dollars (XAU/USD). Dollar strength typically restrains gold prices, while a weaker Dollar is likely to lift them.

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