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

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

The price for Gold stood at 9,216.33 Indian Rupees (INR) per gram, up compared with the INR 9,146.91 it cost on Wednesday.

The price for Gold increased to INR 107,496.20 per tola from INR 106,687.80 per tola a day earlier.

Daily Digest Market Movers: Gold price benefits from reviving safe-haven demand, renewed USD selling

US President Donald Trump said on Wednesday that he was not open to lowering the 145% tariffs imposed on China in order to encourage trade-war negotiations. This keeps a lid on the optimism led by the announcement of US-China trade talks later this week and lends some support to the safe-haven Gold price.

Airports were shut down across Moscow amid a massive Ukrainian drone attack ahead of Russian President Vladimir Putin's unilaterally announced three-day truce. Furthermore, Ukraine said that Russia had launched guided bombs nearly three hours after the ceasefire came into force earlier this Thursday.

Meanwhile, the Israeli military said that it had fully disabled Yemen's main airport in the capital, Sanaa, which is controlled by the Houthis. In response, a member of the Houthis' top political body said that the response to Israel's attacks is coming. This keeps geopolitical risks in play and further underpins the XAU/USD pair.

The Federal Reserve, as was widely expected, held its key interest rate unchanged in a range between 4.25%-4.5% at the end of a two-day monetary policy meeting on Wednesday. In the accompanying statement, the US central bank noted that the uncertainty about the economic outlook has increased further.

In the post-meeting press conference, Fed Chair Jerome Powell also noted that there is a great deal of uncertainty about tariffs and said that the right thing to do is wait for further clarity. This suggests that the US central bank is not leaning toward cutting rates anytime soon, though it failed to impress the US Dollar bulls.

Trump said on Truth Social that he will announce a major trade deal, the first of many, with representatives of a big and highly respected country on Thursday. This remains supportive of a generally positive risk tone around the equity markets and could act as a headwind for the precious metal.

The market focus will remain glued to Trump's press conference at 14 GMT in the Oval Office. Apart from this, Thursday's release of the US Weekly Initial Jobless Claims data will influence the USD price dynamics and provide a fresh impetus to the XAU/USD pair later during the North American session.

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.)