Gold prices in India rose on Monday, with the price per gram reaching 8,197.41 Indian Rupees (INR), up from 8,175.44 INR on Friday. For tola, the cost increased to 95,609.34 INR, compared to 95,350.84 INR previously.
The prices for gold in different units are as follows: 1 gram at 8,197.41 INR, 10 grams at 81,970.98 INR, and a troy ounce at 254,976.20 INR. These figures reflect adaptations of international prices to local measurements.
Central banks remain the largest holders of gold, accumulating 1,136 tonnes worth approximately $70 billion in 2022. Price fluctuations depend on various factors, including geopolitical instability and interest rate changes.
Gold has climbed again, edging upwards from Friday’s levels, setting a new benchmark for those tracking market movement. A gram now commands 8,197.41 INR, a gain from 8,175.44 INR at the week’s close. Meanwhile, the price per tola has moved to 95,609.34 INR, reflecting a broader upward shift.
Breaking these figures down, 10 grams now stand at 81,970.98 INR, while a troy ounce sits at 254,976.20 INR. These conversions serve as a guide for pricing adjustments, particularly for traders balancing between international and domestic rates.
Central banks continue to exert a wide influence, having collectively acquired 1,136 tonnes in 2022, valued around $70 billion. Their role remains dominant as they add further reserves, demonstrating sustained confidence in gold as a safeguard.
Price movement stems from a mix of factors, notably geopolitical events and changes in interest rates. With central banks maintaining their purchases and rates still shaping financial decisions, fluctuations are unlikely to disappear anytime soon. For traders, these elements must be factored into their strategies, as both short-term adjustments and long-term positioning will be shaped by how these forces develop in the coming weeks.
