India Gold price today: Gold falls, according to FXStreet data

FXStreet Team FXStreet

Gold prices fell in India on Friday, according to data compiled by FXStreet.

The price for Gold stood at 8,842.47 Indian Rupees (INR) per gram, down compared with the INR 8,908.96 it cost on Thursday.

The price for Gold decreased to INR 103,144.70 per tola from INR 103,911.70 per tola a day earlier.

Unit measure	Gold Price in INR
1 Gram	8,842.47
10 Grams	88,424.86
Tola	103,144.70
Troy Ounce	275,022.80

Daily Digest Market Movers: Gold price bulls refrain from placing aggressive bets amid trade optimism

The US and China agreed to significantly lower tariffs and initiated a 90-day pause to finalize a broader deal, marking a de-escalation of a disruptive standoff between the world's two largest economies. Moreover, US President Trump pointed to ongoing negotiations with India, Japan, and South Korea.

Negotiators from Russia and Ukraine, as well as a delegation from the US, are currently in Istanbul, Turkey, for the first direct peace talks in three years. However, Russian President Vladimir Putin's absence has already dashed hopes for any breakthrough toward ending the prolonged war.

Meanwhile, Israel’s military intensifies its carnage across the Gaza Strip since dawn on Thursday, and the relentless assault, so far, has killed at least 143 Palestinians. This keeps geopolitical risks in play, which, along with the lack of any US Dollar buying interest, could support the safe-haven Gold price.

A duo of weaker economic reports released from the US on Thursday reaffirmed market bets for more interest rate cuts by the Federal Reserve this year. This, in turn, dragged the US Treasury bond yields sharply lower and undermined the buck, lending some support to the non-yielding yellow metal.

The US Producer Price Index for final demand fell 0.5% in April, marking the first monthly decline since 2023. This comes on top of softer US Consumer Price Index (CPI) on Tuesday, which rose at the lowest annual rate since February 2021, and further pointed to signs of easing inflationary pressures.

Separately, the US Department of Commerce reported that Retail Sales rose 0.1% in April compared to the previous month's upwardly revised growth of 1.7%. This increases the likelihood that the US economy will experience several quarters of sluggish growth and reaffirms dovish Fed expectations.

FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.

Gold FAQs

Why do people invest in Gold?

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Who buys the most Gold?

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

How is Gold correlated with other assets?

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

What does the price of Gold depend on?

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

(An automation tool was used in creating this post.)

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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