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

In India, the price of gold declined on Thursday, according to data from FXStreet. The cost of gold was INR 11,970.11 per gram, which was lower than the previous day's rate of INR 12,002.76. The price per tola also saw a decrease, falling to INR 139,616.50 from INR 139,997.80. FXStreet calculates Indian gold prices by converting international prices into the local currency and adjusting for measurement units.

Prices are updated daily based on the current market rates. Gold has historically been used as a store of value and medium of exchange, and it remains a safe-haven asset during turbulent times. Central banks, particularly those in emerging economies like China, India, and Turkey, have been actively increasing their gold reserves, adding 1,136 tonnes in 2022 alone.

Gold's value is inversely correlated with the US Dollar and US Treasuries, meaning it tends to rise when these assets depreciate. Factors such as geopolitical instability, recession fears, and lower interest rates can also drive gold prices up. As a yield-less asset, gold often benefits from lower interest rates, while a strong US Dollar can keep gold prices in check.

FXStreet, created by a team of economic journalists and experts, provides a factual and journalistic approach to the Forex market.