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

On Thursday, gold prices in India surged, as reported by FXStreet. The price per gram increased from INR 12,824.85 to INR 12,873.52. This marked a rise for the precious metal, reaching INR 150,154.80 per tola from INR 149,586.60 the previous day. To provide context, this translates to INR 400,410.60 per troy ounce. FXStreet calculates Indian gold prices by converting international rates (USD/INR) to the local currency and measurement units.

These prices are updated daily based on market rates taken at the time of publication, serving as a reference only, as local rates may vary slightly. Gold's history includes its use as a store of value, medium of exchange, safe-haven asset, hedge against inflation, and protection against depreciating currencies. Central banks are the largest gold holders, often diversifying reserves amid turbulent times.

In 2022, central banks added 1,136 tonnes of gold worth approximately $70 billion to their reserves, the highest yearly purchase on record. India, China, and Turkey are emerging economies rapidly increasing their gold reserves. Gold has an inverse correlation with the US Dollar and US Treasuries, fluctuating inversely with risk assets, and is influenced by geopolitical events, interest rates, and the US Dollar's performance.