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 9,030.83 Indian Rupees (INR) per gram, down compared with the INR 9,096.39 it cost on Thursday.

The price for Gold decreased to INR 105,335.90 per tola from INR 106,098.50 per tola a day earlier.

Gold's daily market movers: Plunging US yields, soft US Dollar boosts XAU/USD

• US Treasury bond yields are plummeting following the release of US data. The 10-year Treasury note yield dives by four and a half basis points (bps) to 4.30%. Meanwhile, US real yields followed suit, also down four bps at 2.11%.

• US Initial Jobless Claims for the week ending May 24 rose by 240K, up from 226K a week before and exceeding forecasts of 230K.

• US GDP's second estimate for the first quarter of 2021 came at -0.2% QoQ contraction, up from the preliminary estimate of -0.3%.

• Federal Reserve minutes cited uncertainty about the potential impact of tariffs on the economy, with officials adopting a patient stance due to high risks of elevated inflation and unemployment.

• Policymakers acknowledged some stagflation risks as they noted the "Committee might face difficult tradeoffs if inflation proves to be more persistent while the outlooks for growth and employment weaken." They added that they are waiting for the "net economic effects of the array of changes to government policies to become clearer."

• Data revealed that Gold imports to Switzerland from the US rose to its highest level since at least 2012 in April.

• Money markets suggest that traders are pricing in 49 basis points of easing toward the end of the year, following the soft US Initial Jobless Claims report, according to Prime Market Terminal data.

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.)