Gold price in India experienced a notable increase on Tuesday, reflecting an upward trend in the market. According to FXStreet, the cost of gold stood at ₹7,115.92 per gram, a rise from ₹7,084.22 recorded on Monday. The price per tola also surged, reaching ₹82,998.67 compared to ₹82,628.95 the previous day.
Current Gold Prices in India
The following table summarizes the updated gold prices in India:
| Unit Measure | Gold Price in INR |
|---|---|
| 1 Gram | ₹7,115.92 |
| 10 Grams | ₹71,159.18 |
| Tola | ₹82,998.67 |
| Troy Ounce | ₹221,330.00 |
How Gold Prices Are Calculated in India
The article says FXStreet calculates India gold price by changing global rates (USD/INR) into local currency and units. This calculation ensures accuracy and reflects daily market trends. However, it is important to note that local gold prices may vary slightly due to differences in regional market conditions.
Factors Influencing Gold Prices in India
Several factors contribute to fluctuations in gold prices in India:
- International Market Trends: Global gold rates heavily influence Indian prices. As the US dollar strengthens or weakens, the value of gold shifts accordingly.
- USD/INR Exchange Rates: The conversion rate between the Indian Rupee and the US Dollar plays a crucial role in determining gold prices.
- Local Demand: India’s cultural affinity for gold increases demand during festive seasons, pushing prices upward.
- Government Policies: Import duties, taxes, and regulations significantly impact gold prices in the Indian market.
Key Takeaways for Gold Investors
Gold’s rising trend highlights its importance as a valuable investment option. Monitoring updated gold rates can help investors make well-informed decisions. Regular updates like these can provide insights into global and local price trends.
For more insights on gold price trends, visit the Daily Gold Signal for reliable updates. Additionally, check the Daily Gold Update for global price movements and predictions.
