Gold prices increased by Rs 70 to touch Rs 72,550 per 10 grams in the domestic market on Tuesday, following strong global patterns, according to HDFC Securities Ltd. On Monday, the yellow metal had closed at Rs 72,480.
Gold traded in a narrow range under gloomy market sentiment, Saumil Gandhi, research analyst at HDFC Securities, said.
“Traders’ focus is turning to macroeconomic data due at the end of this week, including US GDP and the Federal Reserve’s preferred gauge of consumer inflation, which could offer clues on when the central bank will pivot to monetary policy easing,” he said.