Gold price in India showed an increase on Thursday, reflecting market trends compiled by FXStreet. This surge highlights a positive shift in the precious metal’s value, influenced by global factors and currency fluctuations.
Current Gold Prices in India
The price of gold in India reached ₹7,131.22 per gram, marking a rise from ₹7,088.97 per gram recorded on Wednesday. Similarly, the price per tola rose to ₹83,174.24, compared to ₹82,684.38 the previous day. This upward trend reflects increased demand and global market movements.
Gold Price Table (in INR):
| Unit Measure | Gold Price (INR) |
|---|---|
| 1 Gram | 7,131.22 |
| 10 Grams | 71,310.26 |
| 1 Tola | 83,174.24 |
| 1 Troy Ounce | 221,805.00 |
How FXStreet Calculates Gold Prices
FXStreet calculates gold price in India by adjusting international gold prices (USD/INR) to the Indian currency and measurement units. This ensures accurate and reliable pricing. It is important to note that the rates provided are indicative, and local market prices may vary slightly.
Factors Driving Gold Prices
Several factors influence gold prices in India:
- International Market Trends: Global gold prices impact local rates due to import dependency.
- Currency Exchange Rates: The USD/INR exchange rate directly affects pricing.
- Demand and Supply: Festive seasons and economic conditions also contribute to price fluctuations.
Importance of Monitoring Gold Prices
Keeping track of gold prices is crucial for investors and consumers alike. Gold serves as a hedge against inflation and is a preferred investment option in uncertain economic times. Additionally, gold jewelry remains a cultural and financial asset in India, especially during festivals and weddings. Regular updates help buyers make informed decisions, whether for investment or personal use.
Key Takeaways:
- Gold remains a valuable investment and a hedge against inflation.
- Regular updates, like those from FXStreet, help investors stay informed.
For daily updates and insights on gold prices, explore the Daily Gold Signal website. To access the latest gold market trends, visit Daily Gold Update.
