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 9,087.40 Indian Rupees (INR) per gram, down compared with the INR 9,149.26 it cost on Monday.

The price for Gold decreased to INR 105,993.00 per tola from INR 106,715.20 per tola a day earlier.

Daily digest market movers: Gold climbs as US yields tumble, undermining the US Dollar

• The US 10-year Treasury yield falls three basis points to 4.478%. US real yields have followed suit and are also down for the same amount at 2.168%, a headwind for Bullion prices.

• Gold prices are recovering following an upbeat May US Nonfarm Payrolls report. The print exceeded forecasts of 130K, rising by 139K, while the Unemployment Rate remained steady at 4.2%. The data reinforced the Federal Reserve's (Fed) approach of wait-and-see, fueling a reduction of rate cut bets pricing, with traders eyeing less than two rate cuts this year.

• On Wednesday, the US CPI is expected to rise from 2.3% to 2.5% YoY, with core figures projected to increase from 2.8% to 2.9% YoY. If the numbers come as expected, the Fed would not have room to reduce interest rates as demanded by President Trump.

• Data over the weekend showed that China's central bank added Gold to its reserves in May for the seventh straight month.

• The de-escalation of US-Sino trade war tensions could exert downward pressure on Gold, which so far has gained over 26% this year.

• Money markets suggest that traders are pricing in 44.5 basis points of easing toward the end of the year, according to Prime Market Terminal data.

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.)