Local gold prices decline as FXStreet data shows a fall from Friday’s levels amid adjusted USD/INR rates.
Gold prices in India fell to INR 13,827.12 per gram on Monday, down from INR 13,895.92 on Friday. The decline reflects adjustments based on international gold prices and USD/INR exchange rates, according to daily market data.
Prices per tola also decreased to INR 161,277.10 from INR 162,079.30. FXStreet compiles local gold rates by converting global prices into INR and accounting for measurement units. Rates may vary slightly across 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.