Gold prices in India experienced a slight decline on Wednesday, according to the latest data from FXStreet. This drop in gold rates reflects fluctuations in the international market and changes in the USD/INR exchange rate. Monitoring these price updates is crucial for investors and buyers who keep an eye on market trends. Let’s dive into the details of today’s gold prices and explore why the changes have occurred.
India Gold Price Today – Price Drop Overview
On Wednesday, the gold price in India dropped slightly, with FXStreet reporting a price of INR 7,063.98 per gram. This price is lower compared to Tuesday’s rate of INR 7,076.99 per gram. The same trend was noticed when the price for gold per tola decreased from INR 82,544.62 on Tuesday to INR 82,392.87 on Wednesday.
These fluctuations are important to track, especially for those who trade gold regularly or plan on making significant purchases, as prices can shift based on international market dynamics.
Detailed Gold Prices in India
Here’s a quick breakdown of the current gold prices as per the latest data:
| Unit Measure | Gold Price in INR |
|---|---|
| 1 Gram | 7,063.98 |
| 10 Grams | 70,639.79 |
| Tola | 82,392.87 |
| Troy Ounce | 219,715.30 |
Gold price fluctuations are calculated by FXStreet by factoring in international gold prices, which are then converted into Indian Rupees based on the prevailing USD/INR exchange rate. This approach ensures that the local prices align with international trends, though slight variances might exist at the local level.
Factors Affecting Gold Prices
Several factors contribute to gold price fluctuations in India. The primary influencers include international gold rates, exchange rates, market demand, and geopolitical tensions. The US Dollar exchange rate plays a significant role in shaping gold prices because gold is traded globally in USD. As the Indian Rupee fluctuates against the Dollar, the price of gold in INR adjusts accordingly.
Local market demand and supply also influence gold prices. For example, during festive seasons like Diwali, when gold purchasing traditionally surges, prices might experience upward pressure.
Conclusion
India’s gold prices, as seen in today’s update, have dipped slightly compared to the previous day. Keeping track of such changes is vital for investors and buyers to make informed decisions. The data provided by FXStreet highlights how international market factors and currency exchange rates impact local gold prices.
To stay updated with the latest gold market trends and prices, check out Daily Gold Signal. For regular updates, visit their Daily Gold Update.
