India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Wednesday, according to data compiled by FXStreet.
India's gold prices rose on Wednesday, according to FXStreet data. The price for gold reached INR 12,635.95 per gram, an increase from INR 12,450.08 on Tuesday. To la, the price for gold climbed to INR 147,364.90 from INR 145,215.30 the previous day. The prices are calculated by adjusting international prices to the local currency and measurements.
Gold is seen as a safe-haven asset, a hedge against inflation and currency depreciation, and a store of value. Central banks hold the largest gold reserves, using them to support their currencies during turbulent times. In 2022, central banks added 1,136 tonnes of gold worth around $70 billion to their reserves, the highest yearly purchase since records began.
Gold has an inverse correlation with the US Dollar and US Treasuries, and is inversely correlated with risk assets. Its price can be influenced by geopolitical instability, lower interest rates, and the behavior of the US Dollar.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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