India Gold price today: FXStreet data shows Gold moving higher

Gold traded higher in India on Wednesday, with the rise reflected in data compiled by FXStreet.

At 11,999.01 Indian Rupees (INR) per gram, gold was up from Tuesday’s price of INR 11,930.59.

On a per-tola basis, the price advanced from INR 139,156.10 a day earlier to INR 139,945.30.

Measurement Unit	Gold Price (INR)
1 Gram	11,999.01
10 Grams	119,982.50
Tola	139,945.30
Troy Ounce	373,209.00

To calculate gold prices in India, FXStreet converts international prices using USD/INR and adjusts them to local measurement units. Daily updates reflect market rates prevailing at the time of publication. Prices are just for reference and local rates could diverge slightly.

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Common Questions About Gold

What makes gold an investment choice?

Widely used both to preserve value and to facilitate exchange, gold has held an important place throughout human history. Today, its appeal extends beyond its lustre and use in jewellery: the precious metal is widely regarded as a safe-haven asset, or a good investment during periods of turmoil. Because it is not dependent on any particular issuer or government, gold is also widely viewed as a hedge against inflation and currency depreciation.

Which buyers hold the most gold?

The largest holdings of gold belong to central banks. To shore up their currencies during unsettled periods, they typically diversify reserves and purchase gold, reinforcing perceptions of strength in both the economy and the currency. Substantial gold reserves can 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 year since records began has seen a larger purchase. 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, major reserve and safe-haven assets, tend to move inversely to gold. A depreciating Dollar generally supports gold prices, allowing investors and central banks to diversify their holdings during turbulent periods. The metal also has an inverse relationship with risk assets: stock-market rallies tend to weigh on its price, whereas selling in riskier markets generally benefits gold.

Which factors drive gold prices?

Several factors can influence gold’s price. Its safe-haven appeal means geopolitical turmoil or concerns about a deep recession can trigger a rapid price rise. Lower interest rates generally support gold because it pays no yield, while a higher cost of borrowing usually puts pressure on the metal. Nevertheless, movements in the US Dollar (USD) account for most price changes, as gold is quoted in dollars (XAU/USD). Dollar strength tends to restrain gold prices; a weaker Dollar, by contrast, is likely to lift them.

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