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

On Friday, India's gold prices surged, according to data from FXStreet. The rate for Gold increased to INR 12,967.39 per gram, a jump from INR 12,931.22 the previous day. Gold's value also rose to INR 151,250.20 per tola, up from INR 150,827.20 the day before. FXStreet calculates Indian Gold prices by adjusting international rates to the local currency and measurement units, with updates based on current market rates.

Gold has long been valued for its role as a store of value and medium of exchange, often seen as a safe-haven asset during turbulent times. It is also considered a hedge against inflation and currency depreciation, with central banks being the largest holders. In 2022, central banks added 1,136 tonnes of Gold, worth around $70 billion, to their reserves, the highest yearly purchase since records began.

Central banks from emerging economies like China, India, and Turkey are rapidly increasing their Gold reserves. Gold has an inverse relationship with the US Dollar and US Treasuries, which are major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, allowing investors and central banks to diversify their assets during turbulent times.

Gold is also inversely correlated with risk assets, meaning that a rise in the stock market generally weakens Gold prices, while sell-offs in riskier markets favor the precious metal. The price of Gold can be influenced by various factors, including geopolitical instability, fears of a deep recession, lower interest rates, and the strength of the US Dollar.