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 11,026.96 Indian Rupees (INR) per gram, up compared with the INR 10,935.27 it cost on Monday.

The price for Gold increased to INR 128,617.30 per tola from INR 127,546.90 per tola a day earlier.

Daily market movers: Gold underpinned by falling US yields, Dollar

• Bullion prices advance as the Greenback edges down, as shown by the US Dollar Index (DXY). DXY, which tracks the buck's value against a basket of six currencies, is down 0.27% at 97.91.

• US Treasury yields are falling, with the 10-year Treasury note down three bps at 4.141%. US real yields--calculated by subtracting inflation expectations from the nominal yield--, which correlate inversely to Gold prices, drop three and a half basis points to 1.761%.

• Second-tier data in the US revealed that Pending Home Sales improved in August, rising by 4% MoM, up from an upwardly revised -0.3% contraction in July and above forecasts of a 0.3% expansion.

• Bloomberg revealed that Switzerland has offered to invest in the US gold-refining industry, as part of its efforts to persuade the Trump administration to lower the 39% import tariff imposed last month.

• Last week's US core Personal Consumption Expenditures (PCE) Price Index for August was aligned with estimates, reinforcing the chances for further easing by the Fed.

• Investors now see an 89% probability of a 25 bps rate cut in October versus a slim chance of 11% for a 50 bps cut, according to Prime Market Terminal interest rate probability tool.

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.)