Gold prices in India remained broadly unchanged on Thursday, according to FXStreet data. The price for gold stood at 14,172.22 Indian Rupees (INR) per gram, which is only marginally higher than the INR 14,170.15 recorded on Wednesday. Similarly, the price per tola was stable at INR 165,302.00, compared to INR 165,277.80 a day earlier. Other unit measures included 10 grams at INR 141,722.20 and a troy ounce at INR 440,803.30 [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. However, these prices are for reference only, and local rates may diverge slightly [1].
The article highlights gold's role as a safe-haven asset and a hedge against inflation and depreciating currencies, emphasizing its appeal during turbulent times. Central banks are identified as the largest holders of gold, with emerging economies such as China, India, and Turkey rapidly increasing their 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 described as being inversely correlated with the US Dollar and US Treasuries, and also with risk assets. Factors such as geopolitical instability, recession fears, and interest rate changes can influence gold prices, with lower interest rates generally supporting gold due to its yield-less nature [1].
CONCLUSION
Gold prices in India have remained stable, reflecting a lack of significant market movement. The steady pricing suggests limited immediate impact on the broader financial markets. Investors continue to view gold as a safe-haven asset, especially in uncertain economic environments.