Indian Gold Prices Surge as Central Banks Continue to Hoard the Precious Metal

Gold prices in India rose on Monday, according to data from FXStreet. The price of gold stood at INR 13,495.00 per gram, an increase from INR 13,455.97 per gram on Friday.

The price for gold increased to INR 157,403.00 per tola from INR 156,947.80 per tola on Friday. FXStreet calculates gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units.

Gold has traditionally been a safe-haven asset, meaning it's considered a good investment during turbulent times. Central banks are among the biggest holders of gold, and they tend to diversify their reserves by buying gold to improve the perceived strength of the economy and the currency.