Local gold rates decline as USD/INR adjustments reflect softer international prices, FXStreet data shows.
Gold prices in India fell on Friday, reaching INR 12,501.02 per gram, down from INR 12,578.45 the previous day. The decline also saw prices drop to INR 145,809.30 per tola from INR 146,712.60 on Thursday.
The adjustment follows FXStreet’s methodology, which adapts international gold prices to local currency and measurement units. Prices are updated daily based on market rates at publication time but may vary slightly across local markets.
Central banks globally added 1,136 tonnes of gold worth around $70 billion to reserves in 2022, underscoring its role as a safe-haven asset and hedge against inflation.