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

Gold prices rose in India on Tuesday, according to data compiled by FXStreet.

The price for Gold stood at 9,494.07 Indian Rupees (INR) per gram, up compared with the INR 9,372.77 it cost on Monday.

The price for Gold increased to INR 110,737.70 per tola from INR 109,322.20 per tola a day earlier.

Daily Digest Market Movers: Gold price might continue to draw support from rising trade tensions, bearish USD

• The uncertainty over US President Donald Trump's steep tariffs and their impact on the global economy continues to push the safe-haven Gold price to fresh record highs on Tuesday.

• Moreover, Trump's rapidly shifting stance on trade policies, along with a call to fire Federal Reserve Chair Jerome Powell, keeps investors on the edge and further benefits the commodity.

• Trump accused Powell of not moving fast enough to bring down interest rates. Furthermore, Trump and his team are studying whether they can oust Powell before the end of his term.

• This raises doubts over the Fed's monetary policy independence, which, along with bets that the US central bank will resume its rate-cutting cycle, continues to weigh on the US Dollar.

• According to the CME Group's FedWatch Tool, traders are pricing in the possibility of the Fed cutting interest rates by 25 basis points in June and deliver at least three rate reductions in 2025.

• On the geopolitical front, Russian forces had launched 96 drones and three missiles into eastern and southern Ukraine after the 30-hour short-lived and partially observed Easter ceasefire.

• Traders now look forward to the release of the Richmond Manufacturing Index from the US, which, along with speeches from influential FOMC members, will drive the USD demand.

• The focus, however, will remain on the flash PMIs on Wednesday, which would offer fresh insight into the global economic health and provide some meaningful impetus to the XAU/USD pair.

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.)