India Gold price today: Gold falls, according to FXStreet data

In India, gold prices declined on Monday according to FXStreet data. The cost of gold was INR 13,273.12 per gram, falling from INR 13,295.33 per gram on Friday. The rate also dropped from INR 155,074.10 per tola to INR 154,817.00 per tola compared to Friday's rate. FXStreet calculates Indian gold prices by converting international prices (USD/INR) to local currency and units.

Daily updates are based on market rates at publication time, though local rates may vary slightly. For centuries, gold has been a store of value and medium of exchange, and now it is viewed as a safe-haven asset during turbulent times, a hedge against inflation and currency depreciation, and a source of trust for central banks' solvency.

Central banks add to their gold reserves during crises, as seen with a 1,136-tonne purchase in 2022, the highest yearly addition since records began. Gold has an inverse relationship with the US Dollar and US Treasuries, both significant reserve and safe-haven assets. When the Dollar depreciates, Gold usually rises, allowing investors and central banks to diversify their assets.

Gold also moves inversely with risk assets; a stock market rally usually lowers Gold prices, while sell-offs in riskier markets boost its value. Gold prices can fluctuate due to various factors, including geopolitical instability, recession fears, low interest rates, and the US Dollar's performance. As the asset is priced in dollars (XAU/USD), a weak Dollar typically drives Gold prices up.

Currently, Gold is moving away from its seven-week high of $4,372, nearing $4,300. The US Dollar is recovering from a post-US NFP decline, driven by renewed Hormuz risks. Despite showing strength in the short term, Gold remains a 'buy-the-dip' trade ahead of US CPI data.