India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Wednesday, according to data compiled by FXStreet.
The price for Gold stood at 9,090.18 Indian Rupees (INR) per gram, up compared with the INR 9,055.95 it cost on Tuesday.
The price for Gold increased to INR 106,026.10 per tola from INR 105,626.90 per tola a day earlier.
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 9,090.18 |
| 10 Grams | 90,901.81 |
| Tola | 106,026.10 |
| Troy Ounce | 282,738.60 |
Gold daily market movers: Rally extends amid heightened US yields and hawkish Fed commentary
US Treasury bond yields have risen due to Moody’s actions with the US 10-year Treasury note yield at around 4.477%, up almost three basis points (bps). Meanwhile, US real yields are also up three bps at 2.117%.
The US Dollar Index (DXY), which tracks the performance of the US currency against six others, falls 0.21% to 100.17. Although it remains off daily lows of 100.06, traders seeking safety have moved to the yellow metal.
St. Louis Fed President Alberto Musalem said that if inflation expectations become de-anchored, the Fed's policy should be centered on price stability. He said that there is uncertainty if tariffs would have a temporary or persistent effect on inflation.
Last week, Moody’s, the international rating agency, downgraded the US government rating from AAA to Aa1. They highlighted that more than a decade of inaction by successive US administrations and Congress has contributed to the country’s worsening fiscal position, raising concerns over long-term debt sustainability.
Given the backdrop, major banks are convinced that the yellow metal will continue to rally heading into next year. Goldman Sachs forecasts Bullion to average $3,700 an ounce by year-end, then reach $4,000 by mid-2026.
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
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