Friday prices fell on Thursday, according to data compiled by FXStreet.
The gold price was INR 8,165.30 per gram (INR), down compared to the cost of INR 8,178.09 on Wednesday.
Gold prices fell to 95,238.45 per TOLA at 95,387.63 per TOLA a day ago.
| Unit Measure | INR gold prices |
|---|---|
| 1 gram | 8,165.30 |
| 10 grams | 81,652.99 |
| Tora | 95,238.45 |
| Troy ion | 253,965.00 |
Daily Digest Market Movement: Gold Price Bulls doesn't seem to be committed in a positive risk tone
-
US President Donald Trump's new 25% tariffs on most imports from Mexico and Canada came into effect Tuesday, doubleping China's goods obligations to 20%.
-
Canada has announced retaliatory tariffs on more than $100 billion in US products, while China has slapped tariffs of up to 15% on various US agricultural exports.
-
In his first address to the US Congress, Trump said further tariffs, including “mutual tariffs,” will continue on April 2nd, increasing the risk of a full trade war.
-
Investors are worried that Trump's tariffs could slow US economic growth and force the Federal Reserve to cut interest rates multiple times by the end of this year.
-
The bet was lifted by an Automatic Data Processing (ADP) report. This showed that private sector employment in the US would increase by just 77k in February, with 140K expected.
-
Meanwhile, economic activity in the U.S. services sector continued to expand at an accelerated pace in February, but rarely stimulated the US dollar bull.
-
The USD Index (DXY) has fallen to its lowest level since December 2024, and will further serve as a tailwind for gold prices during Thursday's Asian session.
-
The White House has announced a one-month delay for US automakers to comply with the US-Mexico-Canada agreement on tariffs imposed on Mexico and Canada.
-
This increases investors' appetite for risky assets, preventing traders from making aggressive bullish bets around the Safe Haven Xau/USD pair.
-
Investors are currently focusing on US non-farm salaries on Friday, but are turning to the usual first unemployment claim data from the US on some driving forces.
FXSTREET calculates the price of gold in India by adapting international prices (USD/INR) to local currency and units of measurement. Prices are updated daily based on market rates made at time of publication. Prices are for reference only, and local rates may diverge slightly.
Gold FAQ
Gold has played an important role in human history as it is widely used as a medium of value and exchange. Apart from the gem's brilliance and usage, precious metals are now widely viewed as safe haven assets. In other words, it is considered a good investment in times of turbulence. Gold is also widely viewed as a hedge against inflation and depreciation currencies, as it is not dependent on a particular issuer or government.
The central bank is the largest holder of money. With the aim of supporting currency in turbulent times, central banks tend to buy gold to diversify reserves and improve the perceived strength of the economy and currency. High gold reserves provide a source of trust in the country's solvency. The central bank added 1,136 tonnes of gold to its bookings in 2022, worth around $70 billion, according to data from the World Gold Council. This is the best purchase every year since the record began. Central banks in emerging economies such as China, India and Türkiye are rapidly increasing their gold reserves.
Gold is inversely correlated with the US dollar and the US Treasury, both major reserve assets and safe haven assets. As the dollar depreciates, gold tends to rise, allowing investors and central banks to diversify their assets during turbulence. Gold is also inversely correlated with risk assets. While rallies in the stock market tend to weaken gold prices, selling in high-risk markets tends to favor valuable metals.
A wide range of factors allow prices to move. The fear of geopolitical instability or deep recession can quickly escalate gold prices due to their safe conditions. As an asset that does not yield, gold tends to rise at lower interest rates, but the cost of higher money usually weighs the yellow metal. Still, most movements depend on how the US dollar (USD) behaves, as the asset's price is in dollars (Xau/USD). Strong dollars tend to keep the price of gold down, while weaker dollars can push the price of gold up.
(An automation tool was used to create this post.)
