Gold prices in India were broadly unchanged on Thursday, based on FXStreet data. Gold was priced at INR 14,172.22 per gram, compared with INR 14,170.15 on Wednesday.
Gold was listed at INR 165,302.00 per tola, up from INR 165,277.80 a day earlier. Other reference prices were INR 141,722.20 for 10 grams and INR 440,803.30 per troy ounce.
Indian Gold Price Reference Levels
FXStreet derives Indian gold prices by converting international prices using USD/INR and applying local measurement units. The figures are updated daily using market rates at the time of publication, and local rates may vary slightly.
Central banks are the largest holders of gold. According to the World Gold Council, central banks added 1,136 tonnes of gold worth around $70 billion in 2022, the highest annual purchase since records began.
The current stability in gold prices around ₹14,170 per gram presents a period of consolidation. For derivative traders, this sideways movement could be the calm before a more significant price swing. This suggests that now is a critical time to evaluate underlying market drivers for the next move.
We continue to see strong underlying support from central banks, a trend that accelerated after the record buying of 2022 and persisted through 2025. Central banks globally added another 1,037 tonnes in 2023 and maintained a strong pace of purchases throughout 2024 and 2025, providing a solid floor under the market. This consistent demand should limit the potential downside for traders considering selling futures or buying put options.
Key Macro Drivers To Watch
The market is still pricing in the effects of the monetary policy shift we saw from the US Federal Reserve back in 2025. With expectations for further rate cuts later this year to support a slowing economy, the appeal of a non-yielding asset like gold increases. This macroeconomic backdrop suggests that buying call options or long futures contracts could be a favorable strategy in the coming weeks.
Lingering inflation concerns, stemming from the stubborn price pressures of 2025, also bolster gold’s appeal as a store of value. The inverse correlation with a weakening US Dollar, which has been softening since the Fed signaled its policy pivot, provides another tailwind. This environment suggests that any price dips should be seen as potential entry points for bullish positions.
