Site icon Forex Prop news

The price of gold remains stable despite worries over Trump’s proposed tariffs.

India Gold price today: Gold steadies

During Friday’s early European trading hours, the price of gold (XAU/USD) remains unchanged. The precious metal is somewhat supported by the mounting apprehension over US President Donald Trump’s proposed tariffs. The upswing of the yellow metal is also aided by a drop in US bond yields across the curve.

However, the non-yielding yellow metal may decline if it is anticipated that the US Federal Reserve (Fed) will maintain its aggressive posture and keep the interest rate higher for an extended period of time. The US Retail Sales report for January, which is published later on Friday, will be watched by traders.

Amid concerns of a worldwide trade war, the price of gold remains stable.

The overall trend of the gold price is still positive, but bulls should exercise care due to the overbought RSI.

Technically, the price of gold remains above the important 100-day Exponential Moving Average (EMA), maintaining a robust upward trend on the daily timescale. Before preparing for any additional gains, one should exercise caution as the 14-day Relative Strength Index (RSI) is still above 70.0 and in overbought zone.

The $2,942-$2,943 range, which represents the all-time high reached on Tuesday, is where the first upward obstacle for the yellow gold appears. A rally to $2,955, the top limit of the Bollinger Band, may be possible for extended gains. The psychological level of $3,000 might be reached with a clear break above this level.

India Gold price today: Gold steadies,

India’s gold prices were essentially steady on Friday.

At 8,169.59 Indian Rupees (INR) per gram, the price of gold was essentially unchanged from Thursday’s price of INR 8,175.81.

After trading at INR 95,361.08 per tola the day before, the price of gold remained relatively stable at INR 95,286.45 per tola.

Unit measureGold Price in INR
1 Gram8,169.59
10 Grams81,693.88
Tola95,286.45
Troy Ounce254,097.70

By converting foreign pricing (USD/INR) to the local currency and measurement units, forexnews. fxproptech determines gold prices in India. The market rates used at the time of publication are used to update prices every day. Prices are merely estimates, and actual prices may differ significantly.

Exit mobile version