Created
: 2024.10.31
- 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 falls, according to FXStreet data
World FX news
Breaking news
India Gold price today: Gold falls, according to FXStreet data
New
2024.10.31 13:36
2024.10.31 13:36
2024.10.31 13:36
Gold prices fell in India on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 7,526.42 Indian Rupees (INR) per gram, down compared with the INR 7,535.26 it cost on Wednesday.
The price for Gold decreased to INR 87,786.72 per tola from INR 87,889.82 per tola a day earlier.
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 7,526.42 |
| 10 Grams | 75,264.23 |
| Tola | 87,786.72 |
| Troy Ounce | 234,098.10 |
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
: 2024.10.31
Related articles
USD/CAD trades with mild losses below 1.3950, US NFP data looms
12 minutes agoNZD/USD maintains position above 0.5950 following China Manufacturing PMI
24 minutes agoIndia Gold price today: Gold rises, according to FXStreet data
47 minutes agoJapanese Yen loses ground as manufacturing production continues to decline
48 minutes agoAustralian Dollar depreciates following PPI, China Manufacturing PMI
2024.11.01 11:31China's Caixin Manufacturing PMI jumps to 50.3 in October vs. 49.7 expected
2024.11.01 10:51
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
USD/CAD trades with mild losses below 1.3950, US NFP data looms
The USD/CAD pair loses momentum to around 1.3925 during the early European trading hours on Friday.
New
2024.11.01 14:12NZD/USD maintains position above 0.5950 following China Manufacturing PMI
NZD/USD remains stable for the third consecutive session, trading around 0.5980 during the Asian hours on Friday.
New
2024.11.01 13:59India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Friday, according to data compiled by FXStreet.
New
2024.11.01 13:36Japanese Yen loses ground as manufacturing production continues to decline
The Japanese Yen (JPY) retraces some of its recent gains following the release of the Manufacturing Purchasing Managers Index (PMI) by Jibun Bank and S&P Global on Friday.
New
2024.11.01 13:35WTI remains above $70.00, upside potential appears due to rising Middle-East tensions
West Texas Intermediate (WTI) Oil price holds steady on Friday during Asian trading hours, around $70.20 per barrel, following gains in the previous session.
New
2024.11.01 11:53Gold price gains ground as traders brace for US NFP data
The Gold price (XAU/USD) recovers some lost ground on Friday.
New
2024.11.01 11:52Australian Dollar depreciates following PPI, China Manufacturing PMI
The Australian Dollar (AUD) edges lower against the US Dollar (USD) following two days of gains, as Australia's mixed Producer Price Index (PPI) data for the third quarter was released on Friday.
New
2024.11.01 11:31China's Caixin Manufacturing PMI jumps to 50.3 in October vs. 49.7 expected
China's Caixin Manufacturing Purchasing Managers' Index (PMI) jumped to 50.3 in October after recording 49.3 in September, the latest data showed on Friday.
New
2024.11.01 10:51Japan's Hayashi expects BoJ to work closely with the government
Japan Chief Cabinet Secretary Yoshimasa Hayashi said on Friday that he expected the Bank of Japan (BoJ) to work closely with the government to conduct appropriate monetary policy to sustainably, and stably hit its price target.
New
2024.11.01 10:39PBOC sets USD/CNY reference rate at 7.1135 vs. 7.1250 previous
The People's Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1135, as compared to the previous day's fix of 7.1250 and 7.1122 Reuters estimates.
New
2024.11.01 10:18Disclaimer:
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
