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Gold drops in India as INR-adjusted price declines

FXStreet data show gold prices in India fell from Friday levels to INR 13,273.1 per gram, with the per tola price also easing to INR 154,817.0.

Reported · Written up by our desk · Major Pairs

Gold prices fell in India on Monday, according to data compiled by FXStreet, with the price per gram at INR 13,273.12, down from INR 13,295.33 on Friday.

The decline also showed up in the per tola figure, which dropped to INR 154,817.00 from INR 155,074.10 on Friday.

FXStreet said it calculates gold prices in India by converting international prices using the USD/INR rate into local currency and measurement units, and that local quotes can differ slightly from its reference numbers.

The outlet also noted gold is widely viewed as a safe-haven asset and a hedge against inflation and currency depreciation, with moves often linked to the US dollar and US Treasuries, and to shifts in interest rates and risk sentiment.

Latest closeGold $4,292.00 ▲1.1%

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