India Gold price today: Gold rises, according to FXStreet data

On Tuesday, gold prices climbed in India, as reported by FXStreet data. The price per gram increased from INR 12,720.00 to INR 12,753.96. Additionally, the cost per tola rose from INR 148,363.60 to INR 148,759.20. FXStreet calculates Indian gold prices by adjusting international prices to the local currency and units. These prices are updated daily based on market rates at publication time and serve as a reference, with local rates potentially varying slightly.

Gold has a long history of being a store of value and medium of exchange, and today, it is viewed as a safe-haven asset and hedge against inflation and currency depreciation. Central banks are the largest gold holders, often adding to their reserves during economic turbulence to strengthen their currencies. In 2022, central banks from emerging economies like China, India, and Turkey added 1,136 tonnes of gold worth approximately $70 billion to their reserves, the highest yearly purchase since records began.

Gold has an inverse relationship with the US Dollar and US Treasuries, meaning it tends to rise when the dollar depreciates, providing investors and central banks with diversification in turbulent times. The price of gold can be influenced by various factors, including geopolitical instability, inflation expectations, and the behavior of the US Dollar, as it is priced in dollars (XAU/USD).