Actually, the gauge pressure which is nothing but the absolute pressure less the surrounding pressure (in most of the situations local atmospheric pressure) at a point inside a fluid is proportional to height (or depth) of the point, density of the fluid and acceleration due to gravity.
But, for an incompressible fluid (whose density does not change appreciably with change in pressure or temperature), the gauge pressure is simply the product of the aforementioned three parameters.
Since, for most of the applications a liquid behaves like an incompressible fluid, so, the gauge pressure at a point inside a  liquid is also the product of these three parameters but the absolute pressure is the summation of the local atmospheric pressure and this gauge pressure (height or depth X density X acceleration due to gravity).    
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