India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Friday, according to data compiled by FXStreet.
India's gold prices experienced a decline on Friday, according to FXStreet data. The cost of gold decreased to INR 13,574.68 per gram from INR 13,588.81 on Thursday. This price drop was also reflected in the per tola price, which fell from INR 158,497.20 to INR 158,332.40. FXStreet calculates Indian gold prices by converting international prices (USD/INR) to the local currency and units, updating them daily based on market rates.
Gold has been valued for its role as a store of value, medium of exchange, safe-haven asset, and hedge against inflation and currency depreciation. Central banks are the largest holders of gold, often increasing their reserves during economic turbulence to boost currency strength and public trust. The precious metal has an inverse relationship with the US Dollar and US Treasuries, along with risk assets.
Gold's price is influenced by various factors, including geopolitical events, interest rates, and the strength 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.
Also reported by 5 other outlets
- Gold holds ground with US payrolls data on radar myjoyonline.com
- Gold this week: Modest gain in sight as investors await US payrolls data thehindubusinessline.com
- Gold holds ground with US payrolls data on radar brecorder.com
- Gold steady before US payrolls data, heads for small weekly gain businesstimes.com.sg
- Gold steady before US payrolls data, heads for small weekly gain economictimes.indiatimes.com
