Lifestyle
Global gold rates influence India's gold prices due to the country's significant import dependence. Factors like global demand, supply, economic conditions, and geopolitical events
Currency fluctuations, particularly the INR-USD exchange rate, impact gold prices. A weaker rupee against the dollar raises import costs, leading to higher domestic gold rates.
Government policies on gold import duties and taxes affect domestic prices. Alterations in these policies directly impact imported gold costs and, subsequently, local rates.
Rural gold demand in India is driven by factors like agricultural income and monsoon conditions which influence gold prices.
Gold serves as a hedge against inflation and economic uncertainty. Changes in inflation levels and interest rates affect gold demand, influencing prices in India.
Gold demand spikes during festive and wedding seasons like Diwali and Dhanteras. Cultural celebrations and traditional gifting practices drive up demand, impacting gold prices.
Gold's investment demand such as ETFs, sovereign bonds and physical gold impacts local prices. Investor sentiment and market speculation influence gold's investment demand in India