The gold market in India has seen a recent price dip, reflecting a downward trend in the global and local markets. As of Friday, FXStreet data reports that gold prices fell, impacting both per gram and per tola prices across the country. This article provides a clear overview of the current rates, highlights the factors affecting these changes, and offers insight into how prices are calculated daily.
Current Gold Price Trends in India
According to recent FXStreet data, gold prices in India took a slight fall on Friday. For those tracking the day-to-day shifts, this change affects both individual buyers and the broader market. As per the latest update:
- The price for 1 gram of gold dropped to 7,313.17 Indian Rupees (INR) from Thursday’s 7,336.01 INR.
- The per tola rate decreased, dropping to INR 85,299.38 from the previous day’s INR 85,565.77.
| Unit Measure | Gold Price in INR |
|---|---|
| 1 Gram | 7,313.17 |
| 10 Grams | 73,131.16 |
| Tola | 85,299.38 |
| Troy Ounce | 227,466.00 |
How FXStreet Calculates Daily Gold Prices in India
FXStreet uses a comprehensive calculation method to determine daily gold rates for India. The method involves adapting international prices (USD/INR) to fit local currency units and measurement standards. This calculation allows for an accurate daily update, though local market conditions may cause minor variations. The gold prices, updated daily, are thus based on current global market rates converted into INR.
Key Factors Influencing India’s Gold Prices
Several factors influence gold prices in India, including:
- Exchange Rates: The USD to INR conversion rate directly impacts gold prices in India.
- Global Market Trends: International demand, geopolitical stability, and interest rates also play a significant role.
- Local Market Demand: Festivals, weddings, and investment trends in India affect domestic gold demand and prices.
Stay Updated on Gold Prices and Market Trends
Gold buyers and investors in India should stay updated on daily price movements to make informed decisions. For accurate, daily updates on gold prices and trends, you can explore Daily Gold Signal’s website, which provides insights into market trends and forecasts. Additionally, Daily Gold Signal’s gold update category offers timely information about market fluctuations to help you stay ahead.
