Local gold prices decline as USD/INR adjustments reflect softer international rates, FXStreet data shows.
Gold prices in India fell to INR 12,389.67 per gram on Wednesday, down from INR 12,404.04 the previous day. The decline mirrors a drop in international rates adjusted for USD/INR exchange movements and local measurement units.
Prices per tola also decreased to INR 144,511.40 from INR 144,678.20 on Tuesday. FXStreet compiles daily rates based on market data at publication time, though local prices may vary slightly.
Gold remains a key safe-haven asset and hedge against inflation, with central banks adding 1,136 tonnes worth $70 billion to reserves in 2022.