FXStreet’s India reference estimate for gold rose 1.54% from Friday to Monday, while the latest posted benchmark from the India Bullion and Jewellers Association (IBJA) was dated Nov. 6.
FXStreet reported a per-gram figure of INR 12,465.12 for Monday. That stood INR 188.79 above its Friday figure of INR 12,276.33, a 1.54% increase. For other units, the outlet listed INR 124,651.60 per 10 grams, INR 145,391.10 per tola and INR 387,706.20 per troy ounce. Its Friday tola figure was INR 143,188.70.
FXStreet says it calculates its India reference by converting international gold prices into rupees through the USD/INR exchange rate, then expressing the result in local measurement units. It calls the figures reference prices and cautions that local rates can differ, so its estimate should not be read as a locally posted transaction price.
IBJA’s page showed its latest 999-purity entry as a Friday PM benchmark at INR 141,452 per 10 grams; Monday’s rates were marked pending upload. The association says its rates exclude 3% goods and services tax and making charges, so they do not represent a complete jewelry bill.
The India figures do not establish a like-for-like price comparison. FXStreet gives no purity basis for its converted estimate; IBJA’s latest entry is specifically for 999-purity gold and is dated Friday. FXStreet’s reported increase therefore does not show that a domestic retail rate or IBJA benchmark rose by the same amount.
Investing.com separately listed XAU/USD at $4,124.06 per troy ounce for Nov. 9, up 1.68%. Investing.com’s higher XAU/USD figure is consistent with an increase in the international price; it does not validate FXStreet’s INR estimate.
The comparison continues EconoTimes’ earlier coverage of FXStreet estimates and Indian gold benchmarks.
