India gold price today shows an upward trend, according to data compiled by FXStreet. On Thursday, the price of gold increased in India, reflecting changes in the global market.
Daily Gold Prices in India
The gold price per gram stood at INR 6,294.29, a rise from INR 6,257.45 on Wednesday. Similarly, the price per tola increased to INR 73,415.39 from INR 72,985.62 the previous day.
| Unit Measure | Gold Price in INR |
|---|---|
| 1 Gram | 6,294.29 |
| 10 Grams | 62,942.92 |
| Tola | 73,415.39 |
| Troy Ounce | 195,776.20 |
FXStreet determines gold prices in India by adjusting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on market rates at the time of publication and may vary slightly from local rates.
Global Market Influences
Comex Gold Prices
Comex gold prices reached weekly highs despite a rebound in the USD. The Federal Reserve’s uncertain timeline for interest rate cuts keeps traders cautious, resulting in a range-bound gold price movement.
Federal Reserve Projections
The Fed’s projection of only one interest rate cut this year, down from three projected in March, supports US Treasury bond yields and limits the upside for gold. Recent US Retail Sales data indicated weak economic activity, suggesting the Fed might ease monetary policy soon.
Economic Indicators
Current market trends suggest a potential rate cut in September, with another possible cut in November or December. This offers some support to the XAU/USD pair.
Geopolitical Risks
Geopolitical tensions, such as Ukrainian drone strikes on Russian energy infrastructure and Israel’s warning of possible conflict with Iran-backed Hezbollah, increase demand for safe-haven assets like gold. Additionally, concerns about France’s fiscal discipline under a new government also support gold prices.
Upcoming Economic Events
Investors are now looking ahead to decisions from the Swiss National Bank (SNB) and the Bank of England (BoE), which could influence gold price volatility. Traders will also watch for US economic data releases, including Weekly Initial Jobless Claims, Philly Fed Manufacturing Index, Building Permits, and Housing Starts.
For more insights on gold trends, visit Daily Gold Signal and check out the Daily Gold Update.
