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

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

The price for Gold stood at 8,824.06 Indian Rupees (INR) per gram, down compared with the INR 8,871.65 it cost on Monday.

The price for Gold decreased to INR 102,920.90 per tola from INR 103,477.20 per tola a day earlier.

Daily Digest Market Movers: Gold price bulls remain on the sidelines amid fading safe-haven demand

Moody's downgraded America's top sovereign credit rating by one notch, to "Aa1" on Friday, citing concerns about the nation's growing debt pile. This, however, had a modest impact on the global risk sentiment amid rising trade optimism, which, in turn, failed to assist the safe-haven Gold price to capitalize on the previous day's modest gains.

Traders increased their bets on further interest rate cuts by the Federal Reserve in 2025 following the release of weak US inflation figures and Retail Sales data last week. In fact, the current market pricing indicates higher odds of at least two Fed reductions in 2025. This keeps the US Dollar depressed near a one-week low touched on Monday.

On a more hawkish note, Atlanta Fed President Raphael Bostic said that inflation is not moving to target as fast as anticipated, and inflation expectations are moving in a troubling way. Bostic added that the number of rate cuts this year depends on how things turn out, and details of the tariffs will matter. Bostic leans toward only one rate cut this year.

New York Fed President John Williams said that the recent economic data has been very good and that the labor market is pretty much in balance. Williams, however, warned that some forward-looking indicators are signaling concern. The key word for the economy is uncertainty, and the monetary policy is in a good place, Williams added further.

Fed Vice Chairman Philip Jefferson noted that the US could face a one-time increase in the price level from tariffs, but needs to be sure that it does not become a sustained increase in inflation. It is too early to tell how the labor market will be affected by trade policies, and the Fed will keep policy in place to be sure that inflation expectations remain anchored.

Minneapolis Fed President Neel Kashkari said that the ongoing uncertainty at the hands of the Trump administration's trade policies has put a significant dent in investor sentiment. Kashkari added that there will be lots of jobs in the future of the US economy and backed the Fed's wait-and-see approach until the tariff landscape settles out.

On the geopolitical front, the Israeli military issued evacuation orders to people in Khan Yunis - the southern city of Gaza - as it launched a new operation to increase pressure on Hamas to accept a temporary ceasefire. Adding to this, Israel's Prime Minister Benjamin Netanyahu claimed that the defence forces will take control of all of the Gaza Strip.

Meanwhile, US President Donald Trump announced on his Truth Social platform that Russia and Ukraine have agreed to start negotiations towards a ceasefire immediately after separate phone conversations with the leaders of both countries. Trump further said that the conditions of the bilateral talks will be negotiated between the two parties directly.

There isn't any relevant market-moving economic data due for release from the US on Tuesday, leaving the USD at the mercy of speeches by influential FOMC members. Apart from this, trade-related developments will play a key role in driving the broader risk sentiment and producing short-term trading opportunities around 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.)