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 9,235.39 Indian Rupees (INR) per gram, down compared with the INR 9,247.09 it cost on Thursday.

The price for Gold decreased to INR 107,719.80 per tola from INR 107,856.20 per tola a day earlier.

Gold daily market movers: Extends losses on upbeat US jobs data

• US Initial Jobless Claims for the week ending July 12 dipped from 228K on the previous print to 221K, below forecasts of 235K. The data support the Fed's cautious stance, as the labor market remains healthy, although it hasn't been cited as a cause for inflation.

• Retail Sales in June exceeded forecasts of 0.1% MoM, rose by 0.6% MoM and crushed May's 0.9% plunge as some of the increase is a reflection of higher prices due to tariffs. Inflation on the consumer side revealed earlier in the week that prices are edging higher

• Fed Governor Adriana Kugler added to her hawkish remarks that inflation remains above target, while the labor market remains stable and resilient. She added that CPI inflation is broadening to core goods.

• San Francisco Fed President Mary Daly commented that the economy is in a good place and that, despite restrictive rates, the June CPI began to show the effect of tariffs. Despite this, she added that duties might have a muted impact on inflation and that she still favors two rate cuts.

• US Treasury yields remain flat on Thursday, with the US 10-year Treasury yield, which typically correlates negatively with Gold, steady at 4.461%. However, Bullion prices remain weighed by the strength of the Dollar. The US Dollar Index (DXY), which tracks the buck's performance value against a basket of six currencies, is up 0.45% at 98.72.

• Interest rate probability indicates that the Federal Reserve will maintain its current rates, with odds standing at 95% for a hold and 5% for a 25-basis-point rate cut at the July 30 meeting.

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.)