Local gold rates decline as USD/INR adjustments reflect softer international prices, FXStreet data shows.
Gold prices in India fell on Thursday, reaching INR 13,485.65 per gram, down from INR 13,516.60 the previous day. The decline mirrors a drop in the per tola rate to INR 157,303.50 from INR 157,655.00 on Wednesday.
FXStreet adjusts international gold prices to local currency and units, updating rates daily based on market conditions. The figures serve as a reference, with slight variations possible in 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.