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

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

The price for Gold stood at 8,839.07 Indian Rupees (INR) per gram, broadly stable compared with the INR 8,830.46 it cost on Monday.

The price for Gold was broadly steady at INR 103,099.20 per tola from INR 102,996.80 per tola a day earlier.

Daily digest market movers: Gold prices pressured by high US Treasury yields

US Treasury bond yields are rising, with the US 10-year Treasury note yield surging seven basis points to 4.453%. Meanwhile, US real yields are also steady at 2.163%, as indicated by the US 10-year Treasury Inflation-Protected Securities yields.

US CPI in April is expected to remain unchanged at 2.4% YoY, according to economists. Excluding volatile items, the so-called core CPI is projected to remain unchanged at 2.8% YoY.

The World Gold Council revealed that the People's Bank of China (PBoC) added 2 tonnes to its Gold reserves in April - for the sixth consecutive month. The National Bank of Poland (NBP) increased by 12 tonnes in April to 509 tonnes; while the Czech National Bank increased its reserves by 2.5 tonnes in April.

Swap markets have so far priced in the Fed's first 25 basis points (bps) rate cut for the July meeting, and they expect one additional reduction toward the end of the year.

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.)