Indian Gold Prices Hold Steady Amid Global Market Fluctuations
Gold prices in India remained stable on Wednesday, September 30, according to data from FXStreet. The price of gold stood at INR 12,905.95 per gram, which is roughly equivalent to Tuesday's closing price of INR 12,904.41.
This stability in gold prices can be attributed to the inverse correlation between gold and the US Dollar (USD), a safe-haven asset. When the USD depreciates, gold tends to rise, allowing investors and central banks to diversify their assets during turbulent times.