India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Thursday, according to data compiled by FXStreet.
On Thursday, gold prices climbed in India, as per FXStreet data. The price per gram increased to 13,509.58 Indian Rupees (INR) from the previous day's INR 13,480.30. Similarly, the tola rate rose from INR 157,231.60 to INR 157,573.10. FXStreet converts international prices to local currency and units for accurate reporting. Gold has been a valuable asset throughout history, used for storing value and trading.
Today, it's also considered a safe-haven asset during uncertain times, a hedge against inflation, and a compensation for weakening currencies. Central banks hold the largest gold reserves, often diversifying them to bolster their economies and currencies. In 2022, central banks from emerging economies added 1,136 tonnes of gold to their reserves, a record yearly purchase.
Gold's value typically fluctuates inversely with the US Dollar and US Treasuries, and inversely with risk assets. Its price is influenced by various factors, including geopolitical events, interest rates, and the US Dollar's performance.
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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