Local gold prices decline amid adjusted USD/INR rates, reflecting a broader trend in precious metal valuations.
Gold prices in India fell on Friday, reaching INR 12,504.78 per gram, down from INR 12,566.10 the previous day. The decline also saw prices drop to INR 145,853.30 per tola from INR 146,568.50 on Thursday.
The adjustment reflects changes in international gold prices converted to local currency and measurement units. Prices are updated daily based on market rates at publication time but may vary slightly across local markets.
Gold remains a key safe-haven asset and hedge against inflation, with central banks increasing reserves by 1,136 tonnes worth $70 billion in 2022.