Gold prices in India remained broadly unchanged on Thursday, according to FXStreet data. The price for gold stood at 13,965.84 Indian Rupees (INR) per gram, showing minimal movement compared to the previous day's price of INR 13,974.89 per gram. Similarly, the price per tola was steady at INR 162,894.80, compared to INR 162,999.50 a day earlier [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 reference prices provided may differ slightly from local rates [1].
The article 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 a variety of factors, including geopolitical instability, recession fears, and movements in the US Dollar. The metal 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 risk assets decline [1].
CONCLUSION
Gold prices in India showed little change, reflecting stability in the market. The steady prices suggest limited immediate market impact, with gold continuing to serve as a safe-haven asset amid broader global economic factors.