gold prices in India were little changed on Thursday, with domestic rates holding close to the previous session’s levels. According to market data, gold was priced at 12,810 rupees per gram, compared with 12,821 rupees on Wednesday. The metal also remained stable on a larger unit basis, trading at 149,412 rupees per tola versus 149,537 rupees a day earlier.
Local gold prices are derived from international spot prices and the dollar-rupee exchange rate, then converted into Indian units of measurement. As a result, the figures serve as a daily reference rather than a fixed market quote, and actual retail rates may differ slightly depending on location and dealer margins.
gold continues to occupy a central place in financial markets because of its role as a store of value. Beyond its use in jewelry, the metal is widely regarded as a safe-haven asset, attracting demand during periods of market stress, inflationary pressure, or weakness in paper currencies. Its appeal is also tied to the fact that it is not issued by any government or central bank.
Central banks remain the largest holders of gold , using it as part of reserve management and as a buffer against economic or currency volatility. In recent years, several emerging-market central banks have added to their holdings, including institutions in China, India, and Turkey. According to World gold Council data, official-sector purchases reached 1,136 tonnes in 2022, the highest annual total on record.
gold also tends to move in the opposite direction of the US dollar and Treasury yields. A weaker dollar often supports the metal by making it cheaper for non-US buyers, while lower yields reduce the opportunity cost of holding a non-interest-bearing asset. By contrast, stronger risk appetite in equity markets can weigh on gold , while sharp declines in stocks or other risky assets usually support demand for the metal. Geopolitical tensions and recession fears can also trigger rapid gains.A White House official has accused Moonshot AI of distilling Anthropic’s Fable AI model in the development of Kimi K3, a new Chinese artificial intelligence system that launched last week. The allegation has added to growing concern in Washington that US frontier models may be helping accelerate China’s AI capabilities without authorization.
Michael Kratsios, director of the White House Office of Science and Technology Policy, said on X that the company had built an internal platform designed to distill US models on a large scale while attempting to avoid detection. He distinguished legitimate model distillation — a common process used to create smaller, more efficient systems — from what he described as covert industrial-scale theft of proprietary American technology.
Kimi K3 has quickly become one of China’s most capable AI models, raising the stakes in an increasingly competitive technology race between the US and China. The model’s performance has fueled questions about whether foreign firms are drawing on American systems to improve their own products more rapidly than domestic development alone would allow.
Still, some researchers have challenged the idea that Anthropic’s model could have played a meaningful role in Kimi K3’s training. Anthropic’s Fable 5 was restored on July 1 after being briefly withdrawn because of US export controls, while Kimi K3 was released on July 16. That leaves only a short window in which a large-scale distillation effort could have taken place.
Elie Bakouch, a researcher at AI startup Prime Intellect, argued that the timeline makes the theory difficult to support technically. Dean Ball, OpenAI’s head of strategic futures, also said he did not believe Kimi K3’s capabilities could be explained simply by distillation.
US Treasury Secretary Scott Bessent warned that if Chinese firms are found to be engaging in covert, industrial-scale distillation tied to intellectual property theft, sanctions and Entity List designations could follow. He said support for open-source AI does not extend to violations of American IP.
