Gold prices in India dropped on Thursday, mirroring declines in Comex Gold, as investors booked profits amid easing uncertainty surrounding US President Donald Trump’s new tariff policies. The recent price correction comes after Trump revealed a 10% baseline tariff on most imported goods, with significantly higher duties on imports from key trading partners, including China, Japan, and the European Union (EU).
At the time of writing, the Gold price in India is trading at INR 8,605.97 per gram, a decline from Wednesday’s closing price of INR 8,620.08, according to FXStreet data. Similarly, Gold price per tola corrected to INR 100,377.60 from INR 100,543.00 recorded the previous day.
Key Price Levels in India
| Unit Measure | Gold Price (INR) |
|---|---|
| 1 Gram | 8,605.97 |
| 10 Grams | 86,058.98 |
| 1 Tola | 100,377.60 |
| 1 Troy Ounce | 267,677.30 |
Global Market Movers: Gold Struggles Amid Market Uncertainty
Trump’s tariff decision sent ripples across global financial markets, fueling fears of an escalating trade war. China’s Commerce Ministry swiftly responded, stating that it would take countermeasures to protect its economic interests. The heightened trade tensions could disrupt global free trade, adversely impacting the global economy. This, in turn, has spurred demand for safe-haven assets like Gold.
Impact on the US Dollar and Federal Reserve Outlook
Beyond trade tensions, a sharp sell-off in the US Dollar pushed Gold prices to new record highs on Thursday. Investors remain wary that Trump’s protectionist stance could drive the US economy toward a recession. Market participants are now pricing in a 70% probability that the Federal Reserve (Fed) will implement an interest rate cut in June to counteract potential economic slowdowns.
Additionally, declining US Treasury bond yields continue to weigh on the USD, further supporting Gold’s appeal.
US Economic Data and Upcoming Events
On the economic front, data released by the US ADP on Wednesday showed that private-sector employers added 155K jobs in March, exceeding the anticipated 105K. Despite the positive report, concerns over the broader economic impact of Trump’s trade policies limited any substantial USD gains.
Traders are now closely monitoring the US economic calendar, which includes:
- Weekly Jobless Claims
- US ISM Services PMI
- US Nonfarm Payrolls (NFP) Report on Friday
These key data releases, coupled with further trade-related headlines, are expected to influence USD movements and impact Gold price trends.
Gold Price Calculation in India
FXStreet computes Gold prices in India by adjusting international Gold rates (USD/INR) to local currency values and measurement units. These rates are updated daily based on real-time market movements. However, local Gold prices may slightly vary from the published rates.
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