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

Gold prices dipped in India on Friday, according to FXStreet data. The price for Gold was 14,072.75 Indian Rupees (INR) per gram, lower than Thursday's INR 14,134.59 rate. The price also fell to INR 164,141.60 per tola from INR 164,863.00 tola the previous day. FXStreet calculates Gold prices in India by converting international prices (USD/INR) to the local currency and measurement units.

The prices are updated daily based on market rates at publication time. Prices serve as a reference, and local rates may vary slightly. Gold, known for its shine and use in jewelry, has been a store of value and medium of exchange for centuries. Nowadays, it is considered a safe-haven asset during turbulent times, a hedge against inflation and currency depreciation.

Central banks hold the largest Gold reserves to support currencies and bolster economic strength. 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 relationship with the US Dollar and US Treasuries. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify assets in uncertain times.

Gold is also inversely correlated with risk assets, with stock market rallies weakening its price. The price can fluctuate due to various factors, such as geopolitical instability or concerns of a deep recession, which can drive Gold prices higher due to its safe-haven status. As a yield-less asset, Gold typically rises with lower interest rates and falls with higher rates.

Most moves depend on the US Dollar's behavior, as Gold is priced in dollars (XAU/USD). A strong Dollar generally keeps Gold prices controlled, while a weaker Dollar can push Gold prices up. The FXStreet content team, comprising economic journalists and FX experts, provides a journalistic approach to the Forex market.