Gold prices experienced a notable increase in India on Monday, with current figures reflecting a rise from the previous week. As per the latest data compiled by FXStreet, the price of Gold reached 15,084.29 Indian Rupees (INR) per gram, a rise from INR 14,895.78 recorded on Friday. Similarly, the price for Gold per tola surged to INR 175,940.20, up from INR 173,741.40 just a few days earlier.
Here’s a brief breakdown of the current Gold prices in India for various units of measurement:
- 1 Gram: 15,084.29 INR
- 10 Grams: 150,842.90 INR
- 1 Tola: 175,940.20 INR
- 1 Troy Ounce: 469,174.20 INR
FXStreet calculates these Gold prices in India by adjusting international prices (USD/INR) to match local currency and measurement units. The prices are updated daily based on market rates at the time of publication, though local rates may vary slightly.
Gold has long been regarded as a crucial asset throughout human history, serving not just as a medium of exchange but also as a store of value. In recent times, its role has evolved, becoming widely recognized as a safe-haven asset. Investors tend to flock to Gold during periods of economic turmoil, viewing it as a reliable hedge against inflation and currency depreciation. Unlike other assets, Gold is not tied to any specific issuer or government, adding to its appeal during uncertain times.
Central banks, in particular, are among the largest holders of Gold, leveraging it to bolster their currencies amid crises. As they diversify their reserves, an increase in Gold holdings can enhance the perceived strength of an economy and its currency. Recent data from the World Gold Council revealed that central banks added a record 1,136 tonnes of Gold, valued at approximately $70 billion, to their reserves in 2022—the highest annual purchase recorded.
Emerging economies, including China, India, and Turkey, are rapidly increasing their Gold reserves, further underscoring the precious metal’s enduring value.
Gold prices are influenced by various factors, including geopolitical tensions and economic forecasts. Its traditional inverse correlation with the US Dollar and US Treasuries plays a significant role; as the Dollar depreciates, Gold prices often rise. Conversely, a robust stock market can lead to a decline in Gold prices as investors shift to riskier assets.
Furthermore, Gold typically benefits from lower interest rates. Being a yield-less asset, it tends to attract investment when borrowing costs are reduced. Higher interest rates, however, can place downward pressure on Gold prices.
Overall, the recent uptick in Gold prices in India mirrors broader global trends and highlights the ongoing importance of Gold as a strategic asset during times of economic uncertainty.
