Gold prices in India rose on Monday, according to the data collected by FXSTREET.
The price of gold was 8,824.17 Indian rupees (INR) per gram, an increase compared to the cost of 8,784.65 Indian rupees on Friday.
The price of gold has risen to 102,923.40 Indian rupees per Tola from 102,462.40 Indian rupees for each Tola on Friday.
| Unit | Gold price in inr |
|---|---|
| 1 gram | 8,824.17 |
| 10 grams | 88,241.72 |
| Tire | 102,923.40 |
| Specify an ounce | 274,462.60 |
Digest Market Mark: Gold price attracts some safe flows amid increasing geopolitical tension
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In an interview broadcast on Sunday, Russian President Vladimir Putin stated that Russia has the means and strength to bring the Ukrainian conflict to a logical conclusion. This comes before Putin stopped unilaterally from a three-day ceasefire during May 8-10. However, Russia rejected proposals from Ukraine and the United States to a 30 -day ceasefire.
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Israeli Prime Minister Benjamin Netanyahu promised to respond to the rebel ballistic missile attack in Yemen, which struck Ben Gurion International Airport on Sunday, and added that Iran will also face consequences of the strike. In response, Iranian Defense Minister Aziz Nasserzada said that Tehran would return to whether the United States or Israel attacked.
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US President Donald Trump announced on Sunday a 100 % tariff for all films produced in foreign countries. His unpredictable commercial position disturbs investors, as it leads the safe driving flows that help gold to extend its recovery from the lowest level in the past week near the round number of $ 3,200.
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Traders have reduced the bets that the Federal Reserve would reduce prices as soon as possible in June after the best issuance of US job data on Friday, showing that the economy added 177 kilos in April compared to 130,000 jobs. Additional details revealed that the unemployment rate is 4.2 %, noting to an American labor market that is still flexible.
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However, the US dollar is fighting to attract any meaningful buyers and remain depressed under its multiple levels last Thursday amid the increasing economic uncertainty on the back of Trump’s tariff. This provides additional support to the Xau/USD husband before the two -day FOMC policy meeting on Tuesday.
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Moreover, speeches from Federal Reserve officials will be examined later this week to obtain visions about the future monetary policy path and pay the demand for the US dollar. Meanwhile, USM Services on Monday, which, along with developments related to trade and geopolitical addresses, can produce some motivation to Xau/USD pair on Monday.
FXSTREET calculates gold prices in India by air -conditioning (USD/Inr) with local currency units and measurement. Prices are updated daily based on the market prices that were taken at the time of publication. Prices are only to return to them and local prices can diverge a little.
Common Gold questions
Gold played a major role in human history, as it was widely used as a store for value and exchange. Currently, regardless of its brilliance and use of jewelry, the precious metal is widely seen as a safe asset, which means it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against currency decline because it does not depend on any specific source or government.
Central banks are the largest gold holders. In their goal to support their currencies at troubled times, central banks tend to diversify their reserves and buy gold to improve the powerful power and currency. High gold reserves can be a source of confidence to the dissolved country. Central banks added 1136 tons of gold worth $ 70 billion to their reserves in 2022, according to the data of the Golden Golden Council. This is the highest annual purchase since the start of the records. Central banks of emerging economies such as China, India and Turkey increase their gold reserves.
Gold has a counter -relationship with the US dollar and the United States Treasury, which is one of the main reserves and safe assets. When the dollar decreases, gold tends to rise, allowing investors and central banks to diversify their assets at turbulent times. Gold is inversely associated with the origins of risk. The assembly in the stock market weakens the price of gold, while sales in the most dangerous markets tend to prefer precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of deep stagnation can escalate the price of gold due to its safe situation. As a lower asset than the return, gold tends to rise with low interest rates, while the high cost of money usually reaches the yellow metal. However, most moves depend on how the US dollar (USD) is behaved as the original is priced in dollars (Xau/USD). The strong dollar tends to maintain the price of gold -controlled gold, while the weakest dollar is likely to increase the price of gold.
(The automation tool was used to create this post.)
Source: https://www.fxstreet.com/news/india-gold-price-tode-gold-niss-accorging-to-fxstreet-data-20505050439