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 8,409.45 Indian Rupees (INR) per gram, down compared with the INR 8,447.88 it cost on Thursday.

The price for Gold decreased to INR 98,085.98 per tola from INR 98,534.41 per tola a day earlier.

Daily Digest Market Movers: Gold price is pressured by modest USD strength; downside potential seems limited

• The US Dollar attracts some buyers for the third straight day and looks to build on this week's bounce from a multi-month low, exerting some downward pressure on the Gold price during the Asian session on Friday. 

• Investors remain worried about US President Donald Trump's threatened reciprocal tariffs, which he said will come into effect on April 2. This comes on top of a flat 25% duty on steel and aluminum since February.

• Both Russia and Ukraine stepped up aerial attacks on Thursday amid truce talks, with Ukraine striking Russia's Engels airbase in the Saratov region with attack drones, causing a fire and explosions in the area. 

• Furthermore, Ukraine's air force said on Thursday that Russia had launched 171 drones over its territory. Meanwhile, Russian and US officials are scheduled to hold talks on Ukraine in Saudi Arabia on Monday. 

• Israel resumed heavy strikes across Gaza on Tuesday, breaking the ceasefire with Hamas that was in place since late January. Moreover, Hamas fired three rockets at Israel on Thursday, without causing casualties. 

• The Federal Reserve indicated that it would deliver two 25 basis points rate cuts by the end of this year and also revised down its growth outlook amid the uncertainty over the impact of Trump's aggressive trade policies.

• Adding to this, Fed Chair Jerome Powell said that tariffs are likely to dampen economic growth. Investors now see the US central bank lowering borrowing costs at the June, July, and October monetary policy meetings. 

• The prospects for further policy easing by the Fed might hold back the USD bulls from placing aggressive bets and act as a tailwind for the non-yielding yellow metal in the absence of any relevant US macro releases.

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.)