India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Monday, according to data compiled by FXStreet.
India's gold prices declined on Monday, according to data from FXStreet. The price of gold per gram fell to INR 13,435.32, down from INR 13,482.07 on Friday. The cost of gold per tola also decreased to INR 156,707.00 from INR 157,252.20 on Friday. FXStreet converts international gold prices into Indian Rupees using the current exchange rate and local units.
The prices provided are for reference only and may vary slightly from local rates. Gold has long been considered a valuable commodity and a secure investment during uncertain periods. Alongside its aesthetic appeal and use in jewelry, it is increasingly recognized as a hedge against inflation and currency devaluation. Central banks are the largest gold holders, often purchasing it to bolster their currencies during crises.
In 2022, central banks from emerging economies, including China, India, and Turkey, added 1,136 tonnes of gold worth approximately $70 billion to their reserves. The value of gold is influenced by various factors, including its inverse relationship with the US Dollar and US Treasuries, and its inverse relationship with risk assets.
Geopolitical instability, fears of recession, and changes in interest rates also impact gold prices, as it is priced in US Dollars.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
