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

Gold prices remained broadly unchanged in India on Thursday, according to data compiled by FXStreet.

The price for Gold stood at 9,441.43 Indian Rupees (INR) per gram, broadly stable compared with the INR 9,433.01 it cost on Wednesday.

The price for Gold was broadly steady at INR 110,121.90 per tola from INR 110,023.50 per tola a day earlier.

Daily Digest Market Movers: Gold price bulls seem reluctant to place aggressive bets amid the risk-on mood

Asian stock markets, except Japan's Nikkei225, prolonged the recent bullish run, tracking the overnight record-setting rise in the US benchmark S&P 500 and the tech-heavy Nasdaq Composite Index for the second straight session.

The US Dollar stages a modest recovery from a two-week low touched earlier this Thursday, though the upside potential seems limited amid rising bets for more interest rate cuts by the Federal Reserve than previously expected.

According to the CME Group's FedWatch Tool, the US central bank is all but certain to lower borrowing costs by 25 basis points at the September policy meeting and is expected to deliver at least two rate cuts by the end of this year.

The expectations were reaffirmed by Tuesday's mostly in-line US consumer inflation figures. Moreover, the July US Nonfarm Payrolls report pointed to signs of weakness in the labor market and backs the case for more easing.

Meanwhile, US President Donald Trump escalated his pressure on Fed Chair Jerome Powell to cut interest rates. Furthermore, US Treasury Secretary Scott Bessent said that the Fed should think about a 50-bps rate cut next month.

Chicago Fed President Austan Goolsbee said that he's more concerned about last month's rise in underlying inflation than an unusually weak jobs report, and he may not be inclined to support an interest rate cut in September.

Separately, Atlanta Fed President Raphael Bostic acknowledged a general weakening in the latest round of labor data and noted that tariffs may cause structural changes, though he refrained from commenting on rate cuts.

The US Treasury bond yields remain depressed as investors assess the likely impact of higher tariffs on the US economy and ahead of the US Producer Price Index, due for release later during the North American session.

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.)