India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Tuesday, according to data compiled by FXStreet.
In India, gold prices increased on Tuesday, reaching 13,492.28 Indian Rupees per gram, up from INR 13,428.30 the previous day. This equates to INR 157,370.30 per tola, up from INR 156,625.00 per tola the day before. FXStreet determines Indian gold prices by converting global prices (USD/INR) into local currency and units and updating them daily based on market rates at publication.
Gold has historically been a store of value, medium of exchange, safe-haven asset, and hedge against inflation and currency depreciation, as it relies on no specific issuer or government. Central banks are the largest gold holders, often increasing their reserves during turbulent times to bolster currency strength. In 2022, central banks from emerging economies like China, India, and Turkey added 1,136 tonnes of gold worth around $70 billion to their reserves, the highest yearly purchase since records began.
Gold typically moves inversely with the US Dollar and US Treasuries, inversely with risk assets, and positively with lower interest rates or geopolitical instability.
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 4 other outlets
- Gold gains as greenback eases with US inflation data on radar businesstimes.com.sg
- Gold gains as dollar eases with US inflation data on radar thehindubusinessline.com
- Gold gains as dollar eases with US inflation data on radar brecorder.com
- Gold rises as dollar eases; US inflation data on radar nst.com.my
