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India gold price experienced a decline on Monday, as per the latest data from FXStreet. The price of gold has dropped compared to Friday’s rates, reflecting changes in international markets and currency exchange rates. This article provides a detailed look at the updated gold prices and factors influencing these changes.
India Gold Price and Updates
Gold prices in India have fallen, with the latest figures showing a decrease across multiple units of measurement:
| Unit Measure | Gold Price (INR) |
|---|---|
| 1 Gram | 7,655.07 |
| 10 Grams | 76,552.96 |
| Tola | 89,289.55 |
| Troy Ounce | 238,097.90 |
Compared to Friday’s rates, gold prices are lower. On Friday, the price per gram was INR 7,695.42, while the price per tola stood at INR 89,757.92.
FXStreet Gold Updates
FXStreet determines gold prices in India by converting international gold rates (USD) into Indian Rupees (INR). The conversion uses real-time exchange rates and adapts to local measurement units such as grams and tola. It is important to note that while these prices serve as a reference, local market rates may differ slightly.
Factors Influencing Gold Price
Gold prices are influenced by several key factors that fluctuate daily:
a. Global Market Trends
The international gold market plays a significant role in determining local prices. Changes in global demand, geopolitical events, and economic uncertainty can drive price fluctuations.
b. USD to INR Exchange Rate
Gold is priced globally in USD, making the USD to INR exchange rate a crucial factor. A strong USD often leads to higher gold prices in INR, while a weaker USD can lower them.
c. Central Bank Policies
Monetary policies by central banks, including interest rate decisions and quantitative easing measures, heavily influence gold prices. In times of low interest rates, gold becomes a preferred investment.
d. Local Demand
India’s cultural and seasonal demand for gold, especially during weddings and festivals, also plays a key role in shaping local prices. Supply chain disruptions or increased imports can affect this demand.
Global Gold Market Comparison
India’s gold prices align closely with global trends. However, regional factors such as taxes and import duties create slight variations. Globally, gold prices often act as a hedge against inflation and a safe-haven asset during uncertain times. As inflation fears rise globally, gold continues to attract investor interest.
Conclusion
Gold prices in India have dropped slightly, influenced by global market trends and currency exchange rates. FXStreet’s reliable daily updates provide valuable insights for tracking these fluctuations. For more detailed updates, explore the resources linked above.
For daily gold price updates, visit Daily Gold Signal. Explore the Daily Gold Update category for detailed insights on gold market trends.
