Local gold prices in India rise on Monday, tracking higher international rates and USD/INR movements.
Gold prices in India increased to INR 12,454.56 per gram on Monday, up from INR 12,367.38 on Friday. The price per tola also rose to INR 145,266.90 from INR 144,250.70 over the same period.
The gains reflect adjustments to international gold prices and USD/INR exchange rates, with local prices updated daily based on market rates. Prices serve as a reference, with slight variations possible in local markets.
Central banks globally added 1,136 tonnes of gold worth $70 billion to reserves in 2022, the highest yearly increase on record, underscoring demand for the safe-haven asset.