1 Troy Ounce Gold in Indian Rupee (INR)
Convert 1 ounce of gold (31.1035 g) to Indian Rupee (INR) at the live LBMA XAU/USD spot × USD/INR cross. Real-time rate, updated every minute.
- Updated
- Real-time LBMA & ECN data
- AI-curated from 50+ feeds
As of October 26, 2023, 1 ounce of gold is equivalent to 31.1035 grams. The conversion to Indian Rupees (INR) uses the current spot price of gold per gram, multiplied by 31.1035. This rate is sourced from LBMA via Swissquote ECN.
INRKey Facts
- Amount
- 1 ounce
- Weight (grams)
- 31.1035 g
- Weight (troy oz)
- 1.000000 oz
- Currency
- Indian Rupee (INR)
- Price basis
- LBMA AM/PM spot
- Last refresh
- 2026-06-01
What this means
The conversion formula multiplies the current market price of gold per gram by 31.1035 grams (the weight of one troy ounce). This provides the raw, or 'spot,' value of one ounce in the relevant currency, reflecting the pure metal's value.
The exchange rate between the US Dollar (where gold is often priced) and the Indian Rupee significantly impacts the final INR price. A weaker Rupee generally leads to a higher INR price for gold, and vice-versa.
The price displayed on converters is the 'spot' price. Retail buyers in India typically pay a premium above this spot price to account for manufacturing, dealer margins, taxes, and other costs associated with bringing the gold to market.
Gold Pricing in India. While global gold prices are often quoted in USD per troy ounce, the Indian market primarily deals in grams. The conversion from USD to INR involves the prevailing exchange rate, making the INR price sensitive to currency fluctuations.
Impact of Import Duties and Taxes. India imposes import duties on gold, which directly affect the retail price. These duties, along with Goods and Services Tax (GST), are added to the landed cost of gold, increasing the final price paid by consumers above the spot rate.
Local Market Dynamics. Demand for gold in India, particularly during festive seasons and wedding periods, can influence local premiums. High demand can sometimes lead to prices slightly diverging from the global spot price, even after currency conversion and duty adjustments.
Frequently Asked Questions
What is the current value of 1 ounce of gold in INR?
As of October 26, 2023, 1 ounce of gold is approximately ₹2,55,000 INR. Please note this is an indicative price and can fluctuate based on live market rates.How is 1 ounce of gold converted to INR?
The conversion involves taking the current gold price per gram in INR and multiplying it by 31.1035 grams, which is the weight of one troy ounce.Does the exchange rate affect the INR price of gold?
Yes, the INR to USD exchange rate is a crucial factor. If the INR weakens against the USD, the price of gold in INR will typically increase, assuming the global gold price remains stable.Is the price shown on converters the final retail price?
No, converters usually show the 'spot' price. Retail prices in India include import duties, GST, and dealer markups, making them higher than the spot price.