Forex News
Gold prices fell in India on Tuesday, according to data compiled by FXStreet.
The price for Gold stood at 12,426.96 Indian Rupees (INR) per gram, down compared with the INR 12,507.97 it cost on Monday.
The price for Gold decreased to INR 144,943.80 per tola from INR 145,890.50 per tola a day earlier.
Unit measure | Gold Price in INR |
|---|---|
1 Gram | 12,426.96 |
10 Grams | 124,268.10 |
Tola | 144,943.80 |
Troy Ounce | 386,523.30 |
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.)
- AUD/JPY softens to near 109.30 in Tuesday’s early European session.
- Negative outlook of the cross remains intact below the 100-day SMA, with bearish RSI momentum.
- The first downside target is seen at 108.85; the immediate resistance level to watch is 110.00.
The AUD/JPY cross trades in negative territory around 109.30 during the early European trading hours on Tuesday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD), bolstered by heavy official intervention.
According to quarterly figures released by the Ministry of Finance (MOF) on Monday, Japan conducted currency market interventions on three days between July 30 and August 3. The largest intervention took place on July 30, totaling 7.98 trillion JPY ($50.36 billion), exceeding the previous record of 6.28 trillion JPY set on April 30.
"The enormous scale of intervention underscored the government's sense of urgency to stem the yen's decline," said Tsuyoshi Ueno, senior economist at NLI Research Institute.
Additionally, expectations of further rate hikes from the Bank of Japan (BoJ) might contribute to the JPY’s upside. The summary for the October 29-30 meeting released Tuesday indicated that many board members see a near-term interest rate hike as necessary, signaling there’s a good chance for a December move.
Yen gains support as BoJ tightening hopes and JGB dynamics bolster JPY outlook
Analysts at Rabobank highlight that the JPY has been a standout performer this year, noting that “the JPY is the second best performing G10 currency in the half year to date.” They acknowledge that this “strong ranking has been obtained with the support of sizeable FX intervention over 3 days during the summer, which included joint support with the US Treasury,” but also stress that the currency has recently held its own. On a shorter horizon, they point out that “the JPY has managed to outperform the USD on a 1-month view with the market displaying a clear reluctance to push USD/JPY above the 158.70 area which coincides with the 200-day sma.”
Rabobank observes that the “sell-off in the Nikkei 225 at the end of last week depressed market expectations regarding the chances of a December BoJ rate hike,” yet they argue that “the strength of September wage data supports the potential for further policy tightening both next month and into next year.” In their view, this backdrop “suggests USD/JPY can edge lower to the 155.00 area on a 3-month view.” They add that “another component of any JPY turnaround would likely be a more robust tone in the JGB market,” which “could contribute to a more supportive backdrop for the JPY in the months ahead.”
On the domestic side, Rabobank notes that “Japan’s primary deficit is better than the G7 average and there is speculation that Japan’s huge asset managers may be tempted to repatriate to take advantage of higher JGB yields. This would have positive implications for the JPY.” Looking ahead, they flag that “Q3 GDP data and October national CPI inflation, both due next week, will be of interest to BoJ watchers,” and conclude that they “remain cautiously optimistic on the medium-term outlook for the JPY.”
Technical Analysis: AUD/JPY retains a negative bias below the 100-day SMA
In the daily chart, AUD/JPY keeps a bearish near-term tone as spot holds below the 20-day simple moving average and the 100-day simple moving average. Price is slipping back toward the lower Bollinger Band suppor, while the Relative Strength Index (14) at about 41 stays below the neutral 50 line, hinting that downside pressure remains in control despite the recent bounce from oversold territory.
On the downside, the lower limit of Bollinger Band at 108.85 forms immediate support level. A clear break below this floor would expose the November 6 low of 108.24, followed by the February 13 low of 107.70.
On the bright side, initial resistance level stands at the 110.00 psychological level, en roure to the 20-day SMA at 110.30. The key hurdle to watch is the 110.70-110.75 zone, representing the upper boundary of Bollinger Band and the 100-day SMA, a dense supply zone that would need to be reclaimed to ease the prevailing bearish bias.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Australian Dollar FAQs
One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD.
The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive.
China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs.
Iron Ore is Australia’s largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD.
The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.
- AUD holds losses as China’s Trade Surplus declined to $105.28 billion in October, from the previous $133.53 billion.
- China's October Trade Surplus shrank to CNY 712.78 billion, down significantly from the previous month's CNY 905.97 billion.
- Rising Fed rate hike expectations to 84% continue to bolster the US Dollar against major currencies.
AUD/USD depreciates after registering nearly 1% gains in the previous day, trading around 0.6920 during Asian hours on Tuesday. The pair remains subdued as the Australian Dollar (AUD) holds losses following the release of Trade Balance data from China, Australia’s close trading partner.
National Bureau of Statistics of China reported that the Trade Surplus eased to $105.28 billion in October, from the previous $133.53 billion. Market expectations were $125.8 billion in the reported month. Export eased to 35.2% year-over-year (YoY) from 36.3%, against the expected 33.5%. Meanwhile, import rose to 41.6% YoY from 31.0%, against the expected 32.0%.
China's Trade Balance for October, in Chinese Yuan (CNY) terms, arrived at CNY712.78 billion, shrinking from the previous figure of CNY905.97 billion. The market forecast was for CNY859 billion. Exports rose 28.7% YoY, slower than 29.6% in September. However, the country’s imports remained significantly higher at 34.7% YoY vs. 24.6% recorded previously.
However, the AUD/USD pair may regain its ground as the US Dollar (USD) could face challenges on easing safe-haven demand amid rising speculation about a potential diplomatic breakthrough between Washington and Tehran. Also, Lower crude oil prices, now hitting their lowest point since August, ease inflationary pressure.
US President Donald Trump stated that further military strikes against Iran seem unnecessary, describing the war as "militarily, effectively over" while maintaining that the US remains "locked and loaded" to protect regional stability at the request of neighboring nations.
Traders’ attention now shifts to upcoming US economic indicators, headed by the October Consumer Price Index (CPI) report scheduled for Tuesday. Market forecasts anticipate headline CPI rising to 3.9% year-over-year (from 3.7%), while core CPI is expected to edge up from 2.6% to 2.8%. Building on last week's robust Nonfarm Payrolls report, hawkish remarks from Federal Reserve officials—including Richmond Fed President Thomas Barkin and Chicago Fed President Austan Goolsbee—have fueled expectations of higher rates. According to the CME FedWatch Tool, the odds of a Fed rate hike at the December meeting have surged to 84%, up from 76% a day prior.
Economic Indicator
Trade Balance USD
The Trade Balance released by the General Administration of Customs of the People’s Republic of China is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the CNY. As the Chinese economy has influence on the global economy, this economic indicator would have an impact on the Forex market. In general, a high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.
Read more.Last release: Tue Nov 10, 2026 02:30
Frequency: Monthly
Actual: $105.28B
Consensus: $125.8B
Previous: $133.53B
Source: National Bureau of Statistics of China
China's Trade Balance for October, in Chinese Yuan (CNY) terms, arrived at +CNY712.72 billion, lower from the previous figure of +CNY905.97 billion. The market forecast was for +CNY859 billion.
Exports rose 28.7% Year-on-Year (YoY), slower than 29.6% in September. However, country’s imports remained significantly higher at 34.7% YoY vs. 24.6% recorded previously.
In US Dollar (USD) terms, China’s Trade Surplus shrank to 105.28B versus 125.8B expected and the previous reading of +133.53B.
Exports (YoY): 35.2% vs. 33.5% expected and 36.3% last.
Imports (YoY): 41.6% vs. 32% expected and 31% previous.
Market reaction
No major reaction is seen in the Australian Dollar (AUD), following the release of the China's Trade Balance data, given the antipodean is considered as liquid proxy to Chinese economy. As of writing, the AUD/USD pair is marginally down to near 0.6918.
Economic Indicator
Trade Balance CNY
The Trade Balance released by the General Administration of Customs of the People’s Republic of China is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the CNY. As the Chinese economy has influence on the global economy, this economic indicator would have an impact on the Forex market. In general, a high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.
Read more.Last release: Tue Nov 10, 2026 02:30
Frequency: Monthly
Actual: 712.78B
Consensus: 859B
Previous: 905.97B
Source: National Bureau of Statistics of China
- DXY stalls the overnight fall and draws support from a combination of factors.
- Mixed signals over US-Iran peace talks keep geopolitical risk premium in play.
- Fed hike bets further act as a tailwind for the USD ahead of the US CPI report.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, consolidates around the 101.70 region during the Asian session on Tuesday, awaiting further developments surrounding the Middle East crisis and the US consumer inflation figures.
US President Donald Trump said that there is positive momentum towards ending the war on Iran, and that a resumption of strikes is quite unlikely, declaring the conflict effectively over. However, Mohsen Rezaei, Secretary of Iran’s Supreme National Security Council, dismissed reports of active negotiations as fake news and reiterated that Washington must accept Tehran's seven conditions to end the conflict. This keeps the geopolitical risk premium in play and supports the safe-haven US Dollar (USD).
Furthermore, the upbeat US Nonfarm Payrolls (NFP) report, released last Friday, reaffirmed market bets for an imminent rate hike by the US Federal Reserve (Fed). According to the CME Group's FedWatch Tool, traders are now pricing in over an 80% chance that the US central bank will raise borrowing costs again in December. This turns out to be another factor acting as a tailwind for the DXY, though bulls opt to wait for the release of the US Consumer Price Index (CPI) report before placing fresh bets.
The crucial inflation data will be looked at for more cues about the Fed's policy path. Apart from this, the incoming geopolitical headlines will play a key role in influencing the near-term USD price dynamics and provide some meaningful impetus to the DXY. In the meantime, the aforementioned fundamental backdrop warrants some caution for bearish traders and positioning for any further depreciating move.
Inflation FAQs
Inflation measures the rise in the price of a representative basket of goods and services. Headline inflation is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
The Consumer Price Index (CPI) measures the change in prices of a basket of goods and services over a period of time. It is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core CPI is the figure targeted by central banks as it excludes volatile food and fuel inputs. When Core CPI rises above 2% it usually results in higher interest rates and vice versa when it falls below 2%. Since higher interest rates are positive for a currency, higher inflation usually results in a stronger currency. The opposite is true when inflation falls.
Although it may seem counter-intuitive, high inflation in a country pushes up the value of its currency and vice versa for lower inflation. This is because the central bank will normally raise interest rates to combat the higher inflation, which attract more global capital inflows from investors looking for a lucrative place to park their money.
Formerly, Gold was the asset investors turned to in times of high inflation because it preserved its value, and whilst investors will often still buy Gold for its safe-haven properties in times of extreme market turmoil, this is not the case most of the time. This is because when inflation is high, central banks will put up interest rates to combat it. Higher interest rates are negative for Gold because they increase the opportunity-cost of holding Gold vis-a-vis an interest-bearing asset or placing the money in a cash deposit account. On the flipside, lower inflation tends to be positive for Gold as it brings interest rates down, making the bright metal a more viable investment alternative.
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