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

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

The price for Gold stood at 9,505.86 Indian Rupees (INR) per gram, down compared with the INR 9,528.17 it cost on Tuesday.

The price for Gold decreased to INR 110,877.20 per tola from INR 111,134.70 per tola a day earlier.

Daily digest market movers: Gold price surges as EU-US trade talks seem to falter

US Treasury yields continued to drop as the 10-year Treasury note dives over five basis points (bps) to 4.332% at the time of writing. Consequently, US real yields, which are calculated by subtracting inflation expectations from the nominal interest rate, have also decreased by four and a half basis points to 1.932%.

The US Dollar Index (DXY), which tracks the buck's performance against a basket of six currencies, is down 0.44% at 97.43.

Trade talks between the EU and the US appear to have stalled, following the White House's imposition of 30% tariffs on EU goods. Consequently, the EU is preparing a retaliatory package in the event that a deal is not reached before the August 1 deadline.

Last week's US economic data delivered a mixed picture. While consumer sentiment improved, inflation accelerated in June, with the Consumer Price Index (CPI) nearing the 3% mark. The Producer Price Index (PPI) showed some signs of easing, but a robust Retail Sales report highlighted the continued resilience of American consumers despite the ongoing rise in prices.

Interest rate probability indicates that the Federal Reserve will maintain its current rates, with odds standing at 94% for a hold and 6% 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.)