Forex News
- EUR/USD edges down to near 1.1428 as the US Dollar rebounds.
- Investors await the FOMC Minutes for fresh cues regarding the US interest rate outlook.
- Cooling Eurozone core inflationary pressures have eased fears of more ECB interest rate hikes.
The EUR/USD pair trades marginally lower to near 1.1428 during the early European trading session on Monday. The major currency pair faces slight selling pressure as the US Dollar (USD) gains ground after a negative weekly close.
In the late Asian trade, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.1% higher to near 101.00.
Last week, the US Dollar came under pressure after the release of the United States (US) Nonfarm Payrolls (NFP) data for June, which showed signs of moderate labor demand and forced traders to reconsider the Federal Reserve’s (Fed) interest rate hike expectations.
For fresh cues on the US interest rate outlook, investors await the Federal Open Market Committee (FOMC) Minutes of the June policy meeting, which will be released on Wednesday.
Though investors have underpinned the US Dollar against the Euro (EUR), the latter is outperforming its other peers despite easing fears of more interest rate hikes by the European Central Bank (ECB) this year.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.03% | 0.06% | 0.36% | 0.06% | 0.10% | 0.40% | 0.12% | |
| EUR | -0.03% | 0.03% | 0.33% | 0.03% | 0.08% | 0.37% | 0.09% | |
| GBP | -0.06% | -0.03% | 0.28% | -0.03% | -0.00% | 0.34% | 0.07% | |
| JPY | -0.36% | -0.33% | -0.28% | -0.31% | -0.26% | 0.02% | -0.18% | |
| CAD | -0.06% | -0.03% | 0.03% | 0.31% | 0.02% | 0.35% | 0.09% | |
| AUD | -0.10% | -0.08% | 0.00% | 0.26% | -0.02% | 0.33% | 0.06% | |
| NZD | -0.40% | -0.37% | -0.34% | -0.02% | -0.35% | -0.33% | -0.28% | |
| CHF | -0.12% | -0.09% | -0.07% | 0.18% | -0.09% | -0.06% | 0.28% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Traders will likely pare ECB hawkish bets as the Eurozone core Harmonized Index of Consumer Prices (HICP) has cooled down more-than-expected in June. Last week, the flash core HICP – which excludes volatile components like food, energy, alcohol, and tobacco – arrived lower at 2.4% from estimates and the previous reading of 2.6%.
EUR/USD technical analysis
EUR/USD trades slightly lower at around 1.1430, maintaining a bearish near-term bias as the pair holds beneath the 20-day Exponential Moving Average (EMA) at 1.1462. The positioning below this key dynamic barrier suggests rallies remain capped for now, while the Relative Strength Index (RSI) near 42 hints at weak but stabilizing downside momentum rather than outright oversold conditions.
On the topside, initial resistance is defined by the 20-day EMA at 1.1462, and a daily close above this level would be needed to ease the current bearish pressure and open the door to a more sustained recovery. The major currency pair could rise to near 1.1500 if it breaks above the moving average. On the downside, the June 24 low at 1.1325 will be the key support zone; a break below this would expose it to 1.1300, followed by the 29 May 2025 low at 1.1210.
(The technical analysis of this story was written with the help of an AI tool.)
Economic Indicator
Core Harmonized Index of Consumer Prices (YoY)
The Core Harmonized Index of Consumer Prices (HICP) measures changes in the prices of a representative basket of goods and services in the European Monetary Union. The HICP, – released by Eurostat on a monthly basis, is harmonized because the same methodology is used across all member states and their contribution is weighted. The YoY reading compares prices in the reference month to a year earlier. Core HICP excludes volatile components like food, energy, alcohol, and tobacco. The Core HICP is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as bullish for the Euro (EUR), while a low reading is seen as bearish.
Read more.Last release: Wed Jul 01, 2026 09:00 (Prel)
Frequency: Monthly
Actual: 2.4%
Consensus: 2.6%
Previous: 2.6%
Source: Eurostat
- USD/IDR advances as the US Dollar strengthens on expectations of further Fed rate hikes this year.
- The CME FedWatch tool indicates that markets price a 77.3% chance of year-end Fed rate hikes.
- Indonesia's upcoming June forex reserves report follows a five-month decline to a two-year low caused by aggressive rupiah defense.
USD/IDR rises for the second successive day, trading around 18,040 during the Asian hours on Monday. The pair appreciates as the US Dollar receives support from prevailing market expectations of Federal Reserve (Fed) interest rate hikes later this year. The CME FedWatch tool shows financial markets are pricing in a 77.3% chance of Federal Reserve (Fed) interest rate hikes by year-end.
Traders will likely observe the US Institute for Supply Management’s (ISM) Services Purchasing Managers’ Index (PMI) due later in the day. Traders will shift their focus toward Wednesday's release of the Fed’s June policy Meeting Minutes to gain clearer insights into the future path of interest rates.
However, the US Dollar may face headwinds after last week’s dismal labor data prompted markets to scale back expectations for a September rate hike. US Nonfarm Payrolls (NFP) grew by a meager 57,000 last month, severely undershooting the forecasted 110,000. Although the headline unemployment rate ticked down unexpectedly to 4.2% (from May’s 4.3%), the sharp deceleration in hiring underscores a broader economic cooldown.
Meanwhile, attention shifts to Indonesia’s June foreign exchange reserves release due on Wednesday. In May, reserves hit a near two-year low after falling for a fifth consecutive month due to heavy central bank intervention to defend the rupiah. The continuous drawdown has raised red flags, with Fitch Ratings recently warning of potential risks to the country's credit profile.
Risk sentiment FAQs
In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest.
Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit.
The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity.
The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.
- The Indian Rupee ticks down to near 95.32 as the US Dollar edges higher.
- Lower oil prices will likely limit the Indian Rupee’s downside.
- FIIs turned out to be net buyers on Friday.
The Indian Rupee (INR) opens marginally lower against the US Dollar (USD) at the start of the week. The USD/INR pair ticks up to near 95.32 as the US Dollar edges higher after a negative week, with investors awaiting the Federal Open Market Committee (FOMC) Minutes of the June monetary policy meeting, which will be released on Wednesday.
At the time of writing, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.1% higher to near 101.00. Some buying interest has been reflected in the USD Index after sliding to near 100.55 last week.
Investors will pay close attention to the FOMC minutes as Federal Reserve (Fed) Chair Kevin Warsh didn’t deliver any forward-looking remarks on the monetary policy. In the policy meeting, the Fed left interest rates unchanged in the range of 3.50%-3.75%, as expected, and the dot plot showed that nine of 19 policymakers advocated an interest rate hike by the year-end.
Lower oil prices to support Indian Rupee
Oil prices remaining lower due to the normalization of traffic near the Strait of Hormuz, a critical chokepoint for almost 20% of the global energy supply, are expected to offer support to the Indian Rupee.
Lower oil prices bode well for currencies from economies, such as India, that rely heavily on oil imports to meet their energy needs.
In the opening session, the MCX Crude Oil contract expiring on July 20 trades 0.2% lower to near 6,550, close to its multi-month low of 6,426 posted on Thursday.
Analysts at Citi expect that oil prices could decline further as fundamentals are rapidly reasserting themselves, with Hormuz disruptions fading and shipping flows normalizing. The investment banking firm sees Brent Crude Oil sliding further to $60 by the year-end, which is currently near $71.50.
FIIs turned out to be net buyers on Friday
On Friday, Foreign Institutional Investors (FIIs) turned out to be net buyers in the Indian stock market after remaining sellers in the previous four trading days. The amount of investment by overseas investors in the Indian equity market was Rs. 1,355.33 crore. The sentiment of foreign investors toward Indian equities appears to be improving ahead of the start of the earnings season of the first quarter of Financial Year (FY) 2026-27.
India’s tech giant Tata Consultancy Services (TCS) will be the first company out of the Nifty50 basket to report its quarterly earnings, which are scheduled for Thursday.
Technical Analysis: USD/INR holds Descending Triangle breakout
USD/INR trades marginally higher at around 95.32, holding a bullish bias as it sits above the 20-period exponential moving average (EMA) at roughly 94.97 and the breakout of the Descending Triangle pattern.
The Relative Strength Index (RSI) hovers just above the neutral 50 mark near 54, hinting that upside momentum is positive but not overstretched as the pair consolidates after reclaiming these structural levels.
On the downside, immediate support is seen at the 20-period EMA around 94.97, reinforced by the reclaimed trend-line break zone near 94.83, where buyers would be expected to defend the short-term upbias. Below 94.83, the May 7 low at 94.03 will be the key support zone. On the topside, the next notable resistance comes in near the origin of the prevailing downward trend line around 97.11, and a daily close above that barrier would push the pair into uncharted territory.
(The technical analysis of this story was written with the help of an AI tool.)
Indian Rupee FAQs
The Indian Rupee (INR) is one of the most sensitive currencies to external factors. The price of Crude Oil (the country is highly dependent on imported Oil), the value of the US Dollar – most trade is conducted in USD – and the level of foreign investment, are all influential. Direct intervention by the Reserve Bank of India (RBI) in FX markets to keep the exchange rate stable, as well as the level of interest rates set by the RBI, are further major influencing factors on the Rupee.
The Reserve Bank of India (RBI) actively intervenes in forex markets to maintain a stable exchange rate, to help facilitate trade. In addition, the RBI tries to maintain the inflation rate at its 4% target by adjusting interest rates. Higher interest rates usually strengthen the Rupee. This is due to the role of the ‘carry trade’ in which investors borrow in countries with lower interest rates so as to place their money in countries’ offering relatively higher interest rates and profit from the difference.
Macroeconomic factors that influence the value of the Rupee include inflation, interest rates, the economic growth rate (GDP), the balance of trade, and inflows from foreign investment. A higher growth rate can lead to more overseas investment, pushing up demand for the Rupee. A less negative balance of trade will eventually lead to a stronger Rupee. Higher interest rates, especially real rates (interest rates less inflation) are also positive for the Rupee. A risk-on environment can lead to greater inflows of Foreign Direct and Indirect Investment (FDI and FII), which also benefit the Rupee.
Higher inflation, particularly, if it is comparatively higher than India’s peers, is generally negative for the currency as it reflects devaluation through oversupply. Inflation also increases the cost of exports, leading to more Rupees being sold to purchase foreign imports, which is Rupee-negative. At the same time, higher inflation usually leads to the Reserve Bank of India (RBI) raising interest rates and this can be positive for the Rupee, due to increased demand from international investors. The opposite effect is true of lower inflation.
- Gold bulls turn cautious as Hormuz risks help revive demand for the safe-haven US Dollar.
- Receding Fed rate-hike bets cap any meaningful USD appreciation and support the commodity.
- The technical setup, too, favors bulls and backs the case for the emergence of dip-buyers.
Gold (XAU/USD) attracts fresh sellers following an Asian session uptick to levels above the $4,200 mark, or a two-week top, and, for now, seems to have snapped a three-day winning streak. The US Dollar (USD) attracts some safe-haven flows amid tensions over the Strait of Hormuz and undermines the bullion. However, receding US Federal Reserve (Fed) rate hike bets hold back USD bulls from placing aggressive bets. Furthermore, persistent central bank buying turns out to be another factor lending support to the non-yielding yellow metal.
Despite a fragile US-Iran interim agreement, tensions surrounding the Strait of Hormuz remain elevated as Iran seeks to tighten control over the strategic waterway. In fact, Iran’s ambassador to China said on Saturday that Tehran plans to introduce new service fees for ships passing through the strategically important waterway. The US, however, had rejected the idea of Iran charging vessels for using the strait. This keeps the geopolitical risk premium in play and helps the Greenback to regain positive traction at the start of a new week, which, in turn, is seen undermining the Gold.
Meanwhile, traders trimmed their bets for interest rate hikes by the US Federal Reserve (Fed) in the wake of unimpressive US monthly employment details, released last Thursday, which pointed to softening labor conditions. Furthermore, easing inflation fears in the face of the recent slump in Crude Oil prices could allow the US central bank to adopt a more patient stance, taking the edge off expectations for a prolonged higher-for-longer interest rates. This, in turn, might hold back the USD bulls from placing aggressive bets and limit any meaningful corrective fall in the Gold price.
Meanwhile, a World Gold Council survey highlighted last week that central banks are increasingly turning to Gold as protection against financial crises, inflation, and geopolitical risks. Moreover, almost 90% of respondents expect global central banks' gold reserves to increase over the next year. Adding to this, the latest reserve report published by the European Central Bank (ECB) revealed that Gold has officially overtaken US Treasuries in global reserve allocations. Furthermore, the People's Bank of China (PBoC) added another 320,000 ounces of Gold in May, marking its 19th straight month of increase in its Gold reserves.
Traders now look forward to the US economic docket, featuring the release of ISM Services PMI. Apart from this, speeches from influential FOMC members will drive the USD demand later during the North American session and provide a fresh impetus to the precious metal. Nevertheless, the aforementioned fundamental backdrop suggests that the path of least resistance for Gold is to the upside. Hence, the intraday pullback is likely to be bought into and remain limited, warranting caution before confirming that the recent recovery from the year-to-date low has run out of steam.
XAU/USD 4-hour chart
Gold flirts with 100-SMA support on H4, near $4,150-$4,145
Friday's breakout through the 100-period Simple Moving Average (SMA) on the 4-hour chart and a subsequent move beyond the 23.6% Fibonacci retracement level of the April-June fall were seen as key triggers for the XAU/USD bulls. Moreover, the still-elevated Relative Strength Index (RSI) around 63 and a positive Moving Average Convergence Divergence (MACD) reading hint that upside momentum remains constructive, even as the Gold consolidates just off recent highs.
Hence, weakness below the 23.6% Fibo. level around $4,164 is likely to find support near the 100-period SMA. The latter should provide a floor near $4,147, though a convincing break below would expose the structural low region at $3,940. On the topside, initial resistance is seen at the 38.2% retracement near $4,302, followed by the 50% retracement level at about $4,415 and the 61.8% Fibo. near $4,527. Further up, the 78.6% Fibo. at $4,686 defines the broader bullish extension zone ahead of $4,889, or the April swing high.
(The technical analysis of this story was written with the help of an AI tool.)
US Dollar FAQs
The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
- US Dollar Index holds steady on expectations of further Fed rate hikes, despite cooling global inflation pressures.
- The CME FedWatch tool indicates that markets price a 77.3% chance of year-end Fed rate hikes.
- Weak labor market data released last week prompted financial markets to reduce their bets on a September Fed rate hike.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground after remaining unchanged in the previous day and trading around 101.00 during the Asian hours on Monday.
The Greenback holds steady as traders anticipate further Federal Reserve (Fed) interest rate hikes later this year. The currency's resilience persists despite easing global inflation pressures, which have been aided by a return to normal oil shipping volumes through the Strait of Hormuz.
The CME FedWatch tool shows financial markets are pricing in a 77.3% chance of Federal Reserve (Fed) interest rate hikes by year-end. Traders will likely observe the US Institute for Supply Management’s (ISM) Services Purchasing Managers’ Index (PMI) due later in the day. Traders will shift their focus toward Wednesday's release of the Fed’s June policy Meeting Minutes to gain clearer insights into the future path of interest rates.
However, the US Dollar may face challenges as labor market data released last week prompted markets to reduce bets on a September rate hike. Nonfarm Payrolls (NFP) showed only 57,000 jobs added last month, severely missing the market's forecast of 110,000. While the headline unemployment rate did manage an unexpected drop to 4.2% from May's 4.3%, the dramatic hiring slowdown strongly signals that the broader economy is cooling down.
Fed Chair Kevin Warsh reaffirmed last week the central bank’s independent commitment to its 2% price stability target. Notably, he also acknowledged that inflation risks and expectations have finally begun to moderate over the past month.
US Dollar FAQs
The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
- USD/JPY gains strong follow-through positive traction for the second straight day on Monday.
- The wide US-Japan rate differential undermines the JPY, while Hormuz risks benefit the USD.
- Intervention risks might hold back the JPY bears from placing fresh bets and cap spot prices.
The USD/JPY pair builds on its goodish recovery from the 160.50-160.45 region, or over a two-week low touched on Friday, and gains strong follow-through traction for the second straight day on Monday. The strong intraday move higher lifts spot prices back closer to the 162.00 mark during the Asian session, keeping traders on high alert amid expectations of a possible intervention by Japanese authorities.
In fact, Japan’s Finance Minister Satsuki Katayama said on Friday that officials are ready to act appropriately to currency fluctuations. Moreover, Japan's Chief Cabinet Secretary Minoru Kihara reiterated that the administration is closely monitoring FX moves and is ready to intervene when needed. This might hold back traders from placing aggressive bearish bets on the Japanese Yen (JPY) and act as a headwind for the USD/JPY pair.
However, a persistently wide interest rate differential between Japan and the US continues to fuel the so-called carry trade and weigh heavily on the JPY. The Bank of Japan (BoJ) lifted its policy rate to the highest since 1995, to 1.00% in June, while the US Federal Reserve (Fed) maintained the interest rate target range of 3.5% to 3.75%. This, along with economic risks stemming from Middle East tensions, undermines the JPY and supports the USD/JPY pair.
Tensions surrounding the waterway remain elevated as Iran seeks to tighten control. In fact, Iran’s ambassador to China said on Saturday that Tehran plans to introduce new service fees for ships passing through the strategically important waterway, though the US had rejected the idea of Iran charging vessels for using the strait. Nevertheless, the standoff revives demand for the safe-haven US Dollar (USD) and further acts as a tailwind for the USD/JPY pair.
Meanwhile, any meaningful USD appreciation seems elusive in the wake of receding US Federal Reserve (Fed) rate hike bets, especially after the release of the soft US Nonfarm Payrolls (NFP) report last Thursday. Furthermore, easing inflation fears in the face of the recent slump in Crude Oil prices could allow the US central bank to adopt a more patient stance and cap the USD, warranting caution before placing fresh bullish bets on the USD/JPY pair.
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.02% | 0.06% | 0.34% | 0.07% | 0.09% | 0.36% | 0.11% | |
| EUR | -0.02% | 0.04% | 0.33% | 0.05% | 0.09% | 0.34% | 0.09% | |
| GBP | -0.06% | -0.04% | 0.28% | -0.02% | 0.00% | 0.31% | 0.07% | |
| JPY | -0.34% | -0.33% | -0.28% | -0.29% | -0.25% | -0.01% | -0.18% | |
| CAD | -0.07% | -0.05% | 0.02% | 0.29% | 0.01% | 0.29% | 0.08% | |
| AUD | -0.09% | -0.09% | 0.00% | 0.25% | -0.01% | 0.29% | 0.05% | |
| NZD | -0.36% | -0.34% | -0.31% | 0.01% | -0.29% | -0.29% | -0.24% | |
| CHF | -0.11% | -0.09% | -0.07% | 0.18% | -0.08% | -0.05% | 0.24% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
Gold prices fell in India on Monday, according to data compiled by FXStreet.
The price for Gold stood at 12,740.16 Indian Rupees (INR) per gram, down compared with the INR 12,784.41 it cost on Friday.
The price for Gold decreased to INR 148,592.60 per tola from INR 149,114.80 per tola on friday.
Unit measure | Gold Price in INR |
|---|---|
1 Gram | 12,740.16 |
10 Grams | 127,398.50 |
Tola | 148,592.60 |
Troy Ounce | 396,263.50 |
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
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