India Gold price today: Gold falls, according to FXStreet data
Gold prices fell in India on Friday, according to data compiled by FXStreet.
On Friday, India's gold prices declined according to data from FXStreet. The price of gold was INR 13,168.65 per gram, which is lower than the previous day's INR 13,184.71. The price per tola also decreased to INR 153,596.50 from INR 153,783.90. FXStreet translates international prices into Indian Rupees and local measurements. Gold has historically been used as a store of value and medium of exchange, and is currently viewed as a safe-haven asset, hedge against inflation, and a hedge against depreciating currencies as it's not tied to any specific issuer or government.
Central banks, especially in emerging economies like China, India, and Turkey, are increasing their gold reserves. Gold has an inverse correlation with the US Dollar and US Treasuries, meaning that when the Dollar depreciates, Gold tends to rise, providing investors and central banks with a way to diversify their assets during turbulent times.
The price of gold can be influenced by various factors such as geopolitical instability, fears of a deep recession, lower interest rates, and the behavior 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.
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