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

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

The price for Gold stood at 8,457.70 Indian Rupees (INR) per gram, up compared with the INR 8,409.01 it cost on Thursday.

The price for Gold increased to INR 98,648.94 per tola from INR 98,081.01 per tola a day earlier.

Daily Digest Market Movers: Gold price remains well supported by worries about Trump's tariffs

• US President Donald Trump on Wednesday announced a 25% tariff on imported cars and light trucks set to take effect on April 3, widening the global trade war and tempering investors' appetite for riskier assets. 

• This comes on top of a flat 25% tariff on steel and aluminum, and Trump's impending reciprocal tariff announcement next week, which fuels uncertainty and lifts the safe-haven Gold price to a fresh record high. 

• Meanwhile, the markets are now pricing in the possibility that the Federal Reserve (Fed) would lower borrowing costs again at its June policy meeting amid worries about the tariffs-driven US economic slowdown. 

• The US Dollar bulls seem rather unaffected by better-than-expected US macro data released on Thursday and mostly hawkish comments from Fed officials, lending additional support to the XAU/USD pair. 

• The US Bureau of Economic Analysis (BEA) reported that the US ' Gross Domestic Product (GDP) grew by 2.4% annualized pace in the fourth quarter, above the previous estimate and expected reading of 2.3% 

• Adding to this, the US Department of Labor said that the number of US citizens filing new applications for unemployment insurance ticked lower to 224K compared to the previous week's revised tally of 225K. 

• Richmond Fed President Tom Barkin said that the current moderately restrictive monetary policy is right for an environment with an abnormal amount of uncertainty and fast changes in US government policy.

• Adding to this, Boston Fed President Susan Collins warned that the Trump administration's aggressive trade policies will drive up US inflation, but it is unclear how persistent that upward pressure will be.

• Hence, the focus remains glued to the release of the US Personal Consumption Expenditure (PCE) Price Index, or the Fed's preferred inflation gauge, due later during the early North American session.

• Investors will scrutinize the crucial data to gauge the trajectory for further rate cuts, which will influence the USD price dynamics and provide a fresh impetus to the non-yielding yellow metal. 

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.)