Gold Prices Increase on Monday
On Monday, gold prices saw a rise, as noted by FXStreet’s data.
The price for gold reached INR 10,846.09 per gram, up from the previous Friday’s rate of INR 10,728.50.
As for TOLA measurements, gold prices climbed to 126,506.60, compared to 125,135.10 on Friday.
| Unit Measure | INR Gold Prices |
|---|---|
| 1 gram | 10,846.09 |
| 10 grams | 108,461.50 |
| TORA | 126,506.60 |
| Troy ounce | 337,346.40 |
Daily Market Update: Gold Price Increase Linked to US PCE Data
According to the U.S. Bureau of Economic Analysis, inflation, as measured by the Personal Consumption Expenditure (PCE) price index, edged up from 2.6% in July to 2.7% in August. This was pretty much in line with what the market expected.
The Core PCE Price Index, which factors out volatile food and energy costs, also increased to 2.9% year-on-year in August, remaining consistent with figures from July and the estimates from analysts.
Both PCE and core PCE rose by 0.3% and 0.2% for the month, respectively.
“While personal income and spending were stronger than anticipated, the monthly PCE data gives no substantial reason for the Fed to halt its cautious rate cuts in the upcoming October meeting,” a market analyst noted.
Current market probabilities suggest an 88% chance of a rate cut by the Fed in October, with a 65% likelihood of another reduction in December, according to the CME FedWatch tool.
President Joe Biden is set to meet with key Congressional leaders at the White House on Monday, as government shutdown threats loom. If a funding law is not established, parts of the government might shut down this Wednesday, coinciding with the start of the fiscal year 2026.
The way FXStreet calculates gold prices in India involves adapting international rates (USD/INR) to suit local currency and units. Prices get updated regularly based on market conditions when published. Keep in mind, these prices are primarily for reference and may vary slightly on the ground.
