Gold prices in India saw a notable increase on December 4, 2024, with the price for one gram of gold rising to INR 7,206.19, compared to INR 7,193.10 on the previous day. This shift reflects the broader global market movements that have been influencing precious metals. The price of gold for a tola also rose, reaching INR 84,050.36 from INR 83,898.89, indicating positive momentum.
The increase in prices comes amid a mix of factors, including fluctuations in the US dollar and ongoing global uncertainties. Gold prices, typically sensitive to changes in global economic conditions, are heavily influenced by these external variables. As the market reacts to these conditions, local prices in India reflect the adjusted international values, which are recalculated daily.
Current gold prices in India, according to FXStreet data, show the following updates for various units: 1 gram of gold is priced at INR 7,206.19, 10 grams at INR 72,060.30, and a troy ounce of gold at INR 224,134.50. These prices are derived from international market rates, adjusted for the USD/INR exchange rate.
Traders and investors are now turning their attention to the upcoming economic reports and statements from US Federal Reserve Chair Jerome Powell. These could provide fresh directional cues for the gold market. As always, gold remains a popular choice for investors looking for stability amid global economic uncertainty.
