Local gold prices decline as USD/INR adjustments reflect weaker international rates, FXStreet data shows.
Gold prices in India fell to INR 13,507.77 per gram on Tuesday, down from INR 13,585.81 on Monday. The decline mirrors a drop in the per tola rate to INR 157,552 from INR 158,462 a day earlier.
FXStreet adjusts international gold prices to local currency and units, updating rates daily based on market conditions. Prices serve as a reference, with local rates potentially varying slightly.
The precious metal remains a key safe-haven asset and hedge against inflation, with central banks adding 1,136 tonnes worth $70 billion to reserves in 2022.