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 9,278.60 Indian Rupees (INR) per gram, up compared with the INR 9,231.73 it cost on Monday.

The price for Gold increased to INR 108,222.00 per tola from INR 107,677.10 per tola a day earlier.

Daily digest market movers: Gold edges lower as the Greenback climbs

Gold price has consolidated within the $3,300-$3,350 area during the last few days as trade tensions rose after Trump imposed tariffs on several countries, including USMCA trade partners Canada, Mexico and the EU.

The Greenback's strength is pressuring Bullion prices. The US Dollar Index (DXY), which tracks the performance of the Dollar's value against a basket of six currencies, rises 0.25% to 98.10.

Another reason for XAU weakness is that US Treasury yields are rising, with the 10-year T-note up one basis point to 4.427%.

Investors are awaiting the release of June's Consumer Price Index (CPI) in the United States. The CPI is expected to jump from 2.4% to 2.7% YoY. The underlying print is foreseen at 3% YoY, up from 2.8%, well above the Fed's 2% goal. This justifies the current monetary policy stance by the Fed, which repeatedly said that tariffs are inflation prone, triggering another wave of inflation.

This would exert pressure on the Fed, which so far has witnessed a sudden change of views about the current monetary policy. Governors Waller and Bowman and San Francisco Fed President Mary Daly leaned to the dovish side, expecting at least two rate cuts in 2025.

Data from the CBOT suggests that market players are expecting 47 basis points of easing by the Fed toward the end of 2025. Data from the Chicago Board of Trade revealed that market players are eyeing 49 basis points (bps) of easing in 2025.

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.)