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

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

The price for Gold stood at 8,779.31 Indian Rupees (INR) per gram, down compared with the INR 8,953.37 it cost on Wednesday.

The price for Gold decreased to INR 102,403.20 per tola from INR 104,430.40 per tola a day earlier.

Daily Digest Market Movers: Gold price is pressured by receding safe-haven demand and a modest USD uptick

• US President Donald Trump said earlier this Thursday there is a "very good probability we'll reach a deal with China" and added that we have "potential" trade deals with India, South Korea and Japan. The comments add to the recent optimism and further boost investors' confidence.

• The US Dollar ticks higher in reaction to Trump's remarks and drags the safe-haven Gold price lower for the third consecutive day on Thursday. A breakdown below the $3,265-$3,260 pivotal support prompts technical selling and further contributes to the intraday decline to a two-week low.

• Automatic Data Processing (ADP) reported on Wednesday that private sector employment rose by 62K in April. This marked a notable decline from the 147K increase (revised from 155K) recorded in March and also missed the market expectation for a reading of 108,000 by a wide margin.

• Adding to this, the advance estimates by the Bureau of Economic Analysis, the US economy contracted at an annualized rate of 0.3% during the first quarter of 2025 after growing at a solid pace of 2.4% in the previous quarter. The data, in turn, revives concerns about a looming US recession.

• Meanwhile, the US Personal Consumption Expenditures (PCE) Price Index eased to the 2.3% YoY rate in March from 2.5% previous. Moreover, the core PCE Price Index, which excludes volatile food and energy prices, rose 2.6% vs. 3% in February, pointing to easing inflationary pressures.

• The dismal US macro data reaffirms bets that the Federal Reserve will resume its rate-cutting cycle in June. Traders are pricing in the possibility that the US central bank will lower borrowing costs by 100 basis points by the year-end. This should cap the USD and support the non-yielding yellow metal.

• On the geopolitical front, Kremlin spokesperson Dmitry Peskov said on Wednesday that Russia can mobilize for war on a scale comparable to the Soviet Union during World War II if necessary. Moreover, a Russian drone attack killed two civilians and injured five others in southern Ukraine.

• This might further contribute to limiting losses for the XAU/USD pair. Traders now look forward to key US macro releases - the ISM Manufacturing PMI later this Thursday and the Nonfarm Payrolls report on Friday. The data will provide cues about the Fed's rate-cut path and influence the commodity. 

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.)