Any development in international markets, geopolitical events or changes in the U.S Dollar value can affect gold rate
Domestic demand and supply can be impacted by imports, customs duties and government policies which would affect the price
Government policies, such as changes in import duties or restrictions, can impact the gold market
When Indian Rupee weakens against the U.S Dollar the price of gold in India tends to rise
Investors often turn to gold as a safe-haven asset during any uncertainty which in turn drives up gold prices