Gold prices remained widespread in India on Wednesday, according to the data collected by FXSTREET.
The price of gold was 8,451.82 Indian rupees (INR) per gram, widely stable compared to 8,445.86 Indian rupees on Tuesday.
The price of gold was widely fixed at 98,580.41 Indian rupees per Tola from 98,510.83 Indian rupees per tulus the day before.
| Unit | Gold price in inr |
|---|---|
| 1 gram | 8,451.82 |
| 10 grams | 84,518.23 |
| Tire | 98,580.41 |
| Specify an ounce | 262,881.30 |
Daily Digest Market Movers: Bulls Gold Bulls turns into caution against the long -awaited FOMC decision
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The price of gold started to a new record, about 3,038-38 dollars on Tuesday, with the rise in Middle East tensions and concerns about US President Donald Trump’s tariff plans to provide demand for safe assets.
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Israeli air strikes on Hamas targets in Gaza, killing more than 400 people. Israeli Prime Minister Benjamin Netanyahu said that he ordered the strikes because Hamas rejected proposals to extend the ceasefire that was held since January.
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Trump threatened to impose a mutual tariff and a sector, which he said would enter into force on April 2. This comes in addition to a 25 % flat duty on steel and aluminum since February, nourishing the concerns of the World Trade War.
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Traders intensify their bets that the Federal Reserve will have to reduce interest rates this year by more than expected, amid an increasing possibility of economic shrinkage on the back of the aggressive policies of the Trump administration.
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The current market pricing indicated that the Federal Reserve Bank can reduce the costs of borrowing by 25 basis points for each of them in monetary policy meetings in June, July and October, which increases the yellow metal support that gets the return now.
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The US dollar stages bounce back from less than five months, touched on Tuesday, as traders choose to reduce their downsic bets before FOMC’s decision, to be announced later during the American session on Wednesday.
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The accompanying monetary policy statement and the comments of the Federal Reserve Chairman will closely be examined closely to obtain signals on the future price reduction path, which will lead to the demand for the US dollar and affect the Xau/USD pair.
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 the 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.)
