Gold prices in India fell on Monday, according to FXStreet data. The price for gold stood at 13,260.98 Indian Rupees (INR) per gram, a decrease from INR 13,302.79 per gram recorded on Friday. Similarly, the price per tola dropped to INR 154,669.40 from INR 155,158.00 on Friday. The price for 10 grams was reported at INR 132,605.00, and for a troy ounce at INR 412,455.70 [1].
FXStreet notes that gold prices in India are calculated by adapting international prices (USD/INR) to local currency and measurement units, with daily updates based on market rates at the time of publication. The prices provided are for reference, and local rates may diverge slightly [1].
The article also highlights that gold is widely regarded as a safe-haven asset and a hedge against inflation and depreciating currencies. Central banks, particularly from emerging economies such as China, India, and Turkey, have been increasing their gold reserves. In 2022, central banks added 1,136 tonnes of gold worth around $70 billion to their reserves, marking the highest yearly purchase since records began, according to the World Gold Council [1].
Gold's price is influenced by various factors, including geopolitical instability, recession fears, interest rates, and the strength of the US Dollar. The article explains that gold typically has an inverse correlation with the US Dollar and US Treasuries, and its price tends to rise during periods of lower interest rates or when the Dollar depreciates [1].
CONCLUSION
Gold prices in India experienced a decline at the start of the week, reflecting movements in international markets and currency rates. While the immediate market impact appears limited, ongoing central bank purchases and macroeconomic factors continue to play a significant role in shaping gold's outlook.