India Gold price today: Gold rises, according to FXStreet data
Gold prices rose in India on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 9,388.38 Indian Rupees (INR) per gram, up compared with the INR 9,376.56 it cost on Wednesday.
The price for Gold increased to INR 109,504.20 per tola from INR 109,366.40 per tola a day earlier.
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 9,388.38 |
| 10 Grams | 93,883.78 |
| Tola | 109,504.20 |
| Troy Ounce | 292,011.40 |
Daily Digest Market Movers: Gold price struggles to lure buyers amid mixed fundamental cues
US President Donald Trump held a Situation Room meeting Wednesday afternoon to discuss options in the Israel-Iran conflict. Media reports suggest that Trump has approved attack plans, though he wants to make sure that such an attack on Iran is really needed and that it wouldn't drag the US into a prolonged war in the Middle East.
As the Israel-Iran conflict enters its seventh day, the Israel Defense Forces (IDF) warned residents of the cities of Arak and Khondab in central Iran to evacuate for their safety as it is operating in the area against Iranian military infrastructure. This raises the risk of an all-out war in the Middle East and weighs on investors' sentiment.
Meanwhile, Trump earlier this week said that tariffs on the pharma sector are coming soon. This adds a layer of uncertainty in the markets ahead of the July 9 deadline for higher reciprocal US tariffs and lends some support to the safe-haven Gold price, though some follow-through US Dollar buying keeps a lid on any meaningful appreciation.
The Federal Reserve, as was widely expected, kept interest rates steady amid concern that the Trump administration's tariffs could push up consumer prices. In the so-called dot plot, the committee projected two rate cuts by the end of 2025, though policymakers forecasted only one 25-basis points rate cut in each of 2026 and 2027.
Furthermore, seven of the 19 policymakers indicated they wanted no cuts this year, up from four in March, amid the risk that inflation could stay persistently higher and end the year at 3%. This, in turn, assists the USD to build on this week's recovery from a three-year low and caps the upside for the non-yielding yellow metal.
US banks will be closed on Thursday in observance of Juneteenth National Independence Day, which suggests relatively lower liquidity and irregular volatility. Moreover, there isn't any relevant US macro data due for release, leaving the XAU/USD pair at the mercy of the USD price dynamics and the broader market risk sentiment.
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
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.
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.
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.
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
