India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Monday, according to data compiled by FXStreet.
On Monday, gold prices in India climbed, according to FXStreet's data. The cost of gold increased to INR 11,909.58 per gram, up from the INR 11,825.19 observed on Friday. Gold's price per tola rose to INR 138,910.20 from INR 137,926.70 on Friday. The platform calculates Indian gold prices by translating global rates (USD/INR) to the local currency and measurements.
These prices are updated daily according to market rates at publication time, though local rates may differ slightly. Gold has long been utilized as a store of value, medium of exchange, a safe-haven asset during turbulent times, and a hedge against inflation and currency depreciation. Central banks hold the largest gold reserves, diversifying their holdings during economic uncertainty to bolster currency strength.
In 2022, central banks, especially those in emerging economies like China, India, and Turkey, acquired a record 1,136 tonnes of gold, worth approximately $70 billion. Gold's price tends to fluctuate based on the US Dollar, US Treasuries, risk assets, geopolitical events, and interest rates, as it is priced in US Dollars (XAU/USD).
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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