Most recent article: India Gold price today: Gold falls, according to FXStreet data
Gold prices remained broadly unchanged in India on Monday, according to data compiled by FXStreet.
The price for Gold stood at 6,239.86 Indian Rupees (INR) per gram, broadly stable compared with the INR 6,234.73 it cost on Friday.
The price for Gold was broadly steady at INR 72,779.83 per tola from INR 72,720.65 per tola a day earlier.
Unit measure | Gold Price in INR |
---|---|
1 Gram | 6,239.86 |
10 Grams | 62,398.30 |
Tola | 72,779.83 |
Troy Ounce | 194,083.00 |
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
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD climbs to daily tops near 1.0840 post-NFP
![EUR/USD climbs to daily tops near 1.0840 post-NFP](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/money-59004818_XtraSmall.jpg)
The selling bias in the Greenback gathers extra pace on Friday despite the US economy created more jobs than initially estimated in June, lifting EUR/USD to the area of fresh peak near 1.0840.
GBP/USD trespasses1.2800 after encouraging US Payrolls
![GBP/USD trespasses1.2800 after encouraging US Payrolls](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/british-banknotes-14144912_XtraSmall.jpg)
The continuation of the downward pressure in the US Dollar motivates GBP/USD to extend its recent advance and reclaim the area beyond 1.2800 the figure in the wake of the release of a firm US NFP.
Gold approaches $2,380 on robust NFP data
![Gold approaches $2,380 on robust NFP data](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/stack-of-golden-bars-in-the-bank-vault-60756080_XtraSmall.jpg)
Gold prices intensifies their bullish stance for the day, rising to the vicinity of the $2,380 region following the publication of the US labour market report for the month of June.
Crypto Today: Bitcoin, Ethereum and Ripple lose key support levels, extend declines on Friday
![Crypto Today: Bitcoin, Ethereum and Ripple lose key support levels, extend declines on Friday](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/Bitcoin_2_XtraSmall.jpg)
Crypto market lost nearly 6% in market capitalization, down to $2.121 trillion. Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) erased recent gains from 2024.
How the new UK government can tackle the public finances
![How the new UK government can tackle the public finances](https://editorial.fxstreet.com/images/Macroeconomics/Countries/Europe/UnitedKingdom/union-jack-flag-waves-next-to-guard-in-red-uniform-20279560_XtraSmall.jpg)
Britain is waking up to a Labour government for the first time in 14 years, and one that will command a significant majority in the House of Commons. But the honeymoon for incoming Prime Minister Keir Starmer will be short-lived.