India gold price experienced a decline today, based on the latest data from FXStreet. The updated prices reveal a downward trend compared to the previous day. Investors and buyers may notice the changes in gold rates as detailed below.
Latest India Gold Price
The gold price per gram in India decreased to INR 7,303.81 on Wednesday, a slight drop from the INR 7,313.69 recorded on Tuesday. Similarly, the price of gold per tola fell to INR 85,189.29, compared to INR 85,305.47 from the previous day.
Gold Rate Update: Prices at a Glance
| Unit Measure | Gold Price in INR |
|---|---|
| 1 Gram | 7,303.81 |
| 10 Grams | 73,037.31 |
| 1 Tola | 85,189.29 |
| Troy Ounce | 227,184.50 |
These rates reflect a marginal decline that could interest both retail buyers and investors tracking the gold market.
Factors Influencing Gold Prices in India
Gold prices in India are affected by a combination of domestic and international factors. Globally, gold prices often fluctuate due to:
- Global Economic Trends: Changes in the global economy, such as inflation or recession, can significantly influence gold demand.
- Central Bank Policies: Adjustments in interest rates by central banks, particularly the US Federal Reserve, impact gold prices.
- Geopolitical Events: Political instability or international conflicts often lead to increased gold demand as it is considered a safe-haven asset.
Domestically, key factors include:
- Currency Exchange Rates: The USD/INR rate impacts how international gold prices translate into local prices.
- Demand During Festivals: Seasonal demand, particularly during festivals and weddings, can drive up prices.
- Government Policies: Import duties and taxes on gold affect its final price for consumers.
How FXStreet Calculates Gold Prices in India
FXStreet adapts international gold prices, denominated in USD, to the Indian market by factoring in the USD/INR exchange rate and local measurement units. The calculations ensure accurate daily updates reflecting market trends. However, local prices might vary slightly due to regional factors and market dynamics.
Stay Updated with Gold Price Trends
To keep up with daily gold updates, visit the Daily Gold Signal for accurate and timely information. For detailed insights and historical trends, explore their Daily Gold Updates section.
