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

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

The price for Gold stood at 9,090.18 Indian Rupees (INR) per gram, up compared with the INR 9,055.95 it cost on Tuesday.

The price for Gold increased to INR 106,026.10 per tola from INR 105,626.90 per tola a day earlier.

Gold daily market movers: Rally extends amid heightened US yields and hawkish Fed commentary

US Treasury bond yields have risen due to Moody's actions with the US 10-year Treasury note yield at around 4.477%, up almost three basis points (bps). Meanwhile, US real yields are also up three bps at 2.117%.

The US Dollar Index (DXY), which tracks the performance of the US currency against six others, falls 0.21% to 100.17. Although it remains off daily lows of 100.06, traders seeking safety have moved to the yellow metal.

St. Louis Fed President Alberto Musalem said that if inflation expectations become de-anchored, the Fed's policy should be centered on price stability. He said that there is uncertainty if tariffs would have a temporary or persistent effect on inflation.

Last week, Moody's, the international rating agency, downgraded the US government rating from AAA to Aa1. They highlighted that more than a decade of inaction by successive US administrations and Congress has contributed to the country's worsening fiscal position, raising concerns over long-term debt sustainability.

Given the backdrop, major banks are convinced that the yellow metal will continue to rally heading into next year. Goldman Sachs forecasts Bullion to average $3,700 an ounce by year-end, then reach $4,000 by mid-2026.

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.)