Created
: 2024.10.24
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
India Gold price today: Gold rises, according to FXStreet data
World FX news
Breaking news
India Gold price today: Gold rises, according to FXStreet data
New
2024.10.24 13:38
2024.10.24 13:38
2024.10.24 13:38
Gold prices rose in India on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 7,369.73 Indian Rupees (INR) per gram, up compared with the INR 7,340.16 it cost on Wednesday.
The price for Gold increased to INR 85,959.05 per tola from INR 85,614.14 per tola a day earlier.
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 7,369.73 |
| 10 Grams | 73,699.44 |
| Tola | 85,959.05 |
| Troy Ounce | 229,224.30 |
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs
Gold has played a key role in human's history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn't rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country's solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Last updated
: 2024.10.24
Related articles
NZD/JPY Price Analysis: Pair tumbles and eyes break of 90.00-92.00 range
2024.11.23 06:57NZD/USD Price Analysis: Pair fell to lowest level since November, bears command
2024.11.23 06:18Canadian Dollar loses momentum on Friday
2024.11.23 05:47Australian Dollar retreats as US Dollar gains momentum after S&P PMI data
2024.11.23 05:07US Dollar retraces from two-year high after PMI data, geopolitical uncertainty prevails
2024.11.23 03:08Mexican Peso slumps, shrugging off solid data
2024.11.23 02:37
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
NZD/JPY Price Analysis: Pair tumbles and eyes break of 90.00-92.00 range
The NZD/JPY pair has been on a downward trajectory for the past three days, shedding 0.27% on Friday's session to close near the 90.30 level.
New
2024.11.23 06:57Silver Price Forecast: XAG/USD surges above $31.00 as US yields fall
Silver price recovered some ground on Friday and reclaimed the $31.00 a troy ounce, boosted by falling US Treasury bond yields and despite a firm US Dollar.
New
2024.11.23 06:31NZD/USD Price Analysis: Pair fell to lowest level since November, bears command
The NZD/USD pair extended its losses on Friday, declining by 0.54% to 0.5830, its lowest level since early November.
New
2024.11.23 06:18Canadian Dollar loses momentum on Friday
The Canadian Dollar (CAD) waffled into the midrange on Friday, testing into the low side but ultimately getting hamstrung as Canadian data comes in mixed and gets overshadowed by sentiment-bolstering US data prints.
New
2024.11.23 05:47Australian Dollar retreats as US Dollar gains momentum after S&P PMI data
The AUD/USD declined just below 0.6500 as the market is focused on the US Dollar's strength.
New
2024.11.23 05:07Gold price reaches two-week peak as US yields fall, geopolitical tensions rise
Gold price rallies to a new two-week high on Friday during the North American session as US Treasury bond yields drop.
New
2024.11.23 04:55Dow Jones Industrial Average soars another 350 points
The Dow Jones Industrial Average (DJIA) has snapped its recent soft patch, extending its midweek bullish pivot into a firm Friday performance.
New
2024.11.23 03:56US Dollar retraces from two-year high after PMI data, geopolitical uncertainty prevails
In Friday's session, the US Dollar Index (DXY) declined slightly after reaching a new two-year high amidst geopolitical instability.
New
2024.11.23 03:08Mexican Peso slumps, shrugging off solid data
The Mexican Peso retreats for the third straight day versus the US Dollar, although economic data suggests the country's economy grew in the third quarter while inflation edged lower.
New
2024.11.23 02:37A (local) peak in Gold is now imminent - TDS
The downturn in Gold prices underscored by sharp liquidations from macro funds lined up exceptionally well with historical patterns surrounding drawdowns associated with macro fund liquidations from extreme levels, averaging between 7-10% over the last decade, TDS' Senior Commodity Strategist Daniel Ghali notes.
New
2024.11.23 01:02Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
