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

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

The price for Gold stood at 8,032.76 Indian Rupees (INR) per gram, down compared with the INR 8,072.62 it cost on Thursday.

The price for Gold decreased to INR 93,692.55 per tola from INR 94,157.45 per tola a day earlier.

Daily digest market movers: PCE Friday more important than ever

• Overnight, several US officials had to issue additional statements on the current timetable for US tariffs being imposed after the US President contradicted himself multiple times on what kind of tariffs would take place, when and for which countries. The troubled communication from Trump himself cast a fog over the tariff element, triggering a steep selloff in Gold (which was the tariff safe haven until now), Bloomberg reports. 

• The main data elements for this Thursday have been released:

  • The second reading of the US Gross Domestic Product (GDP) for the fourth quarter of 2024:

    • The GDP annualized came in as expected at 2.3%.

    • The headline preliminary Personal Consumption Expenditures (PCE) component came in higher at 2.4%, beating the 2.3% with the core number turning red hot at 2.7%, surpassing the 2.5%.

  • US Initial Jobless Claims for the week ending on February 21 cme in higher at 224,000 with specific numbers for Washington D.C. on the uprising. Clearly the DOGE effect is playing out here. The US Continuing Claims for the week ending on February 14 fell to 1.862 million, below the expected 1.870 million people and below the previous 1.869 million people. 

• At 16:00 GMT, the US Kansas Fed Manufacturing Activity Index for February will be released. No forecast is available with the previous reading at -5.

• Five US Federal Reserve (Fed) officials are set to speak:

  • At 15:00 GMT, Federal Reserve Vice Chair for Supervision Michael Barr delivers a speech on "Novel Activity Supervision" at the Bank and Fintech Arrangements TechSprint event in Washington, D.C.

  • At 16:45 GMT, Federal Reserve Governor Michelle Bowman gives a speech focusing on Community Banking at the Fort Hays State University Robbins Banking Institute Lecture Series in Hays, Kansas.

  • At 18:00 GMT, Federal Reserve Bank of Richmond President Thomas Barkin will speak about "Inflation then and now", in Fayetteville Cumberland Economic Development, North Carolina.

  • Just 15 minutes later, at 18:15 GMT, Federal Reserve Bank of Cleveland President and Chief Executive Officer Beth M. Hammack participates in the "2025 Bank Regulation Research Conference" at the Columbia University/Bank Policy Institute, New York.

  • Rounding up at 20:15 GMT Federal Reserve Bank of Philadelphia President Patrick T. Harker will discuss the economic outlook at the Lyons Economic Forecast, presented by the University of Delaware's Center for Economic Education and Entrepreneurship, in Newark, Delaware.

• Equities are rolling over in both Europe and the US with the US indices down less than 1% while Europe faces bigger losses near its closing bell.

• The CME Fedwatch Tool projects a 33.0% chance that the interest rates will remain at the current range in June, with the rest showing a possible rate cut. 

• The US 10-year yield trades around 4.28%, not far from its low for this week aat 4.24%, nd again further down from last week's high at 4.574%.

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.

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