International Gold Price History

About International Gold Price History

This IndiaGraphs dataset traces an international gold price quotation over time. International benchmarks are valuable for studying the global gold market, but they must be distinguished from Indian domestic and retail prices.

What the international gold price measures

International gold prices are commonly quoted in US dollars per troy ounce and provide a global reference for trading and valuation. The IndiaGraphs dataset follows an international gold-price series; its precise quotation basis and fixing time should be checked in the dataset metadata before comparing individual observations.

Why this is not the Indian retail price

An international quotation is not the price a consumer pays at an Indian jewellery shop. Currency conversion, import duties, domestic market premiums, taxes, purity and making charges can all affect local prices. Even after conversion, a global benchmark and a domestic retail quote are not directly equivalent.

The exchange-rate connection

For an approximate currency conversion, multiply a USD-per-troy-ounce quotation by the USD/INR rate, then adjust for the required weight unit. One troy ounce is approximately 31.1035 grams. This produces a currency-converted benchmark, not a landed or retail Indian price.

Why gold moves

Gold prices respond to a combination of real interest rates, the US dollar, expectations about monetary policy, investor demand, central-bank activity and geopolitical uncertainty. No single factor explains every period. Correlations can change when market conditions change.

Interpreting the historical series

Distinguish daily quotations from monthly or annual averages, if aggregating the downloaded data. A period average should not be labelled as a year-end price. For India-focused comparisons, read this series alongside the USD/INR exchange rate and domestic gold price data.

Limits of historical performance

A rising nominal gold price does not automatically imply a positive inflation-adjusted return. Currency movements can also make returns differ for Indian and US-dollar investors. Historical quotations describe past markets and cannot establish a future price target.