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

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

The price for Gold stood at 11,018.16 Indian Rupees (INR) per gram, broadly stable compared with the INR 11,012.36 it cost on Tuesday.

The price for Gold was broadly steady at INR 128,513.70 per tola from INR 128,446.00 per tola a day earlier.

Daily Digest Market Movers: Gold remains supported by Fed rate cut bets and sustained safe-haven buying

Gold has risen by an impressive 45% since the beginning of 2025 and recorded gains exceeding 11% in September as profound market uncertainty continues to drive investors globally to seek refuge in traditional safe-haven assets.

A Republican spending bill failed to pass through the Senate on Tuesday, setting the stage for a partial government shutdown from midnight. A prolonged shutdown could have an adverse effect on economic performance.

This could further encourage more easing from the US Federal Reserve, which, in turn, is seen driving flows towards the non-yielding yellow metal and contributing to the recent strong positive move to a fresh all-time high.

According to the CME Group's FedWatch Tool, traders are currently pricing in a nearly 95% chance of an interest rate cut at the next FOMC meeting in October and an over 75% probability of another rate reduction in December.

The expectations seem unaffected by hawkish comments from Dallas Fed President Lorie Logan, saying that anchored inflation expectations cannot be taken for granted and that he plans to exercise caution in further reductions.

The US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday that the number of job openings on the last business day of August stood at 7.22 million vs 7.2 million estimated.

Russian officials said on Monday that a move to supply US Tomahawk cruise missiles to Ukraine, for strikes deep into its territory, could trigger a steep escalation. This keeps geopolitical risks in play and benefits the safe-haven bullion.

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.)