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

Gold prices in India increased on Monday, according to data from FXStreet. The cost of Gold per gram was reported at INR 12,757.24, a rise from INR 12,718.48 on the previous Friday. The price per tola also climbed to INR 148,801.30 from INR 148,345.90 on Friday. FXStreet calculates the Indian Gold price by converting international rates (USD/INR) into the local currency and units, updating the figures daily based on market rates at the time of publication.

The precious metal has been used as a store of value and medium of exchange throughout history, and is currently seen as a safe-haven asset during turbulent times, a hedge against inflation and currency depreciation. Central banks are significant holders of Gold, diversifying their reserves during economic turbulence. In 2022, central banks added 1,136 tonnes of Gold, the highest annual purchase since records began.

Gold's price is inversely correlated with the US Dollar and US Treasuries, as well as risk assets, and can be influenced by geopolitical events, interest rates, and the strength of the Dollar. Currently, Gold is trading below $4,200, with some buyers attracted at the start of a new week, yet lacking bullish conviction.