An Indian 24-karat gold quote fell ₹924 per 10 grams Friday, Hindustan Times reported, though a separate benchmark showed a different level, so the figure does not establish a national benchmark move.
At 3:10 a.m. ET (07:10 UTC) Oct. 23, the tracker listed gold at ₹142,469 per 10 grams, down about 0.64% from Thursday. It also listed 22-karat gold at ₹130,501.60 per 10 grams, a decline of ₹846.39. Hindustan Times did not name the price provider or explain its calculation method.
The India Bullion and Jewellers Association (IBJA) showed a latest AM rate of ₹141,448 per 10 grams for 999-purity gold, though that row had no visible date. Its latest dated PM rate was ₹142,694 on Oct. 22. IBJA says its rates exclude 3% goods and services tax and making charges, so they reflect a different benchmark and snapshot from the tracker’s quote. EconoTimes previously compared differing published 24-karat references in India.
Reuters reported Brent futures at $113.75 a barrel at 12:39 a.m. ET (04:39 UTC) Friday, up 0.5%. On Thursday, Brent had climbed 3.2% to $112.33 at 1:05 p.m. ET (17:05 UTC), Reuters reported. Hindustan Times later listed Brent at $113.87, up 0.62%, but gave no time for that oil quote. Reuters linked oil-market gains to supply concerns after Houthi attacks in Saudi Arabia. The Associated Press (AP) said Saudi authorities had not identified who carried out the Dammam airport strike, and the Houthis had not commented on that specific attack at the time of its report.
Reuters described an indirect link between oil and gold: inflation worries tied to energy costs may lift rate expectations, making gold less attractive relative to assets that earn interest. Bas Kooijman, CEO and asset manager of DHF Capital S.A., said the crude rebound had made the backdrop harder for gold by putting inflation concerns and possible policy tightening back in market focus.
Separately, Reuters reported the rupee at ₹94.96 per U.S. dollar Friday, compared with ₹94.8175 on Thursday, and linked its weakness to higher oil prices and risk aversion. The World Gold Council said a weaker rupee cushioned some of September’s decline in domestic gold prices, while rupee gains contributed to lower local prices by mid-October. It said October’s price declines were supporting festive and wedding-season demand, alongside healthy jeweler orders and improving store visits.
Reuters said investors were watching the Federal Reserve’s meeting on Tuesday and Wednesday, Oct. 27-28, and the U.S. Personal Consumption Expenditures report due the following week for interest-rate signals.
