Indian Gold Prices Rise to INR 13,415 per Gram
Indian gold prices increased on Friday, reaching INR 13,415.21 per gram. The daily gain reflects broader market movements in precious metals.
Gold prices in India rose on Friday. The spot price reached 13,415.21 Indian Rupees per gram. This marks an increase from 13,362.98 INR on Thursday. The data comes from FXStreet.
The price per tola also climbed. It stood at 156,475.10 INR on Friday. This is higher than the 155,863.20 INR recorded on Thursday. The troy ounce price reached 417,266.80 INR.
Daily price movements in local currency
The one-gram unit price moved upward. The ten-gram unit cost 134,154.60 INR. These figures reflect the daily market rate. FXStreet calculates these prices using international USD/INR rates.
Local shop rates may differ slightly. The listed prices serve as a reference point. They are updated daily at the time of publication. Investors should verify current rates before transacting.
Factors influencing precious metal values
Gold acts as a safe-haven asset. It often rises during periods of geopolitical instability. Investors view it as a hedge against inflation. Central banks also hold it to support currency strength.
The metal has an inverse correlation with the US Dollar. A weaker Dollar typically pushes gold prices up. Higher interest rates usually weigh on gold. Stock market rallies can also reduce demand for the metal.
Global central bank reserve trends
Central banks added 1,136 tonnes of gold in 2022. This volume was worth approximately 70 billion US dollars. It represented the highest yearly purchase on record. Emerging economies led these acquisitions.
China, India, and Turkey increased their holdings significantly. These nations diversify reserves to enhance economic trust. High gold reserves signal solvency to international markets. This trend supports long-term demand for the asset.
