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 9,341.84 Indian Rupees (INR) per gram, down compared with the INR 9,388.94 it cost on Thursday.

The price for Gold decreased to INR 108,961.30 per tola from INR 109,510.80 per tola a day earlier.

Daily Digest Market Movers: Gold price is weighed down by reduced bets for more aggressive Fed rate cuts

• The US Federal Reserve (Fed) held interest rates steady at the end of a two-day meeting on Wednesday amid concern that US President Donald Trump's tariffs could push up consumer prices. In the so-called dot plot, the committee projected two rate cuts by the end of 2025. However, Fed officials forecasted only one 25-basis points rate cut in each of 2026 and 2027 amid the risk that inflation could stay persistently higher.

• The global risk sentiment remains fragile on the back of persistent trade-related uncertainties and rising geopolitical tensions in the Middle East. In fact, Trump said earlier this week that tariffs on the pharma sector are coming soon. This adds a layer of uncertainty in the markets ahead of the July 9 deadline for sweeping "liberation day" tariffs and keeps investors on edge, which could benefit the safe-haven Gold price.

• On the geopolitical front, the aerial war between Iran and Israel continues for the eighth day amid speculations over a possible US involvement. According to the US Senate Intelligence Committee Chair, Trump said that he would give Iran the last chance to make a deal to end its nuclear program and delay his final decision on launching strikes for up to two weeks. This raises the risk of a broader regional war in the Middle East.

• The US Dollar is seen retreating further from over a one-week high touched on Thursday, in the aftermath of the Fed's hawkish pause, which, in turn, could support the commodity. Moreover, the supportive fundamental backdrop suggests that the path of least resistance for the XAU/USD pair is to the upside and backs the case for the emergence of some dip-buying at lower levels heading into the weekend. 

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.)