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 9,888.34 Indian Rupees (INR) per gram, up compared with the INR 9,835.26 it cost on Monday.

The price for Gold increased to INR 115,338.20 per tola from INR 114,717.90 per tola a day earlier.

Daily Digest Market Movers: Gold continues to benefit from Fed rate cut bets, safe-haven flows

Rising bets that the Federal Reserve will cut interest rates this month push the Gold price higher for the sixth straight day, to levels beyond the $3,500 psychological mark or a fresh all-time peak during the Asian session on Tuesday.

US Treasury Secretary Scott Bessent defended US President Donald Trump's decision to fire Fed Governor Lisa Cook over allegations of mortgage fraud. Moreover, Trump has criticised Fed Chair Jerome Powell for not lowering rates.

This adds to worries about the Fed's independence, which might keep a lid on any attempted US Dollar recovery from the vicinity of August monthly swing lows, retested on Monday, and further benefit the non-yielding yellow metal.

A US federal appeals court ruled on Friday that Trump's reciprocal tariffs were illegal. Trump has made it clear the next stop will be the Supreme Court, adding a layer of uncertainty in the markets and underpinning the safe-haven bullion.

An escalation of the conflict between Russia and Ukraine, and in the Middle East, keeps the geopolitical risks in play. This is seen as another factor lending support to the XAU/USD pair and backs the case for a further appreciating move.

Traders now look forward to important US macro releases scheduled at the beginning of a new month, starting with the ISM Manufacturing PMI on Tuesday, for more cues about the Fed's rate cut path and a fresh directional impetus.

This week's US economic docket also features JOLTS Job Openings on Wednesday, followed by the ADP report on private-sector employment and ISM Services PMI on Thursday, ahead of the Nonfarm Payrolls (NFP) report on Friday.

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.)