Representational photo
Hyderabad: Gold rates in Hyderabad have surged to historic levels by crossing the Rs 84,000 mark for 24-carat gold.
The unprecedented rise reflects a growing trend in gold prices across India which is driven by global economic concerns and market volatility.
As of today, the price of 10 grams of 22-carat gold in Hyderabad stands at Rs 77,300 whereas, 24-carat gold has soared to Rs 84,330.
This marks an over 8 percent increase compared to the beginning of the month when 22-carat gold was priced at Rs 71,500 and 24-carat gold at Rs 78,000.
Hyderabad’s spike in gold prices is part of a nationwide trend as other major cities like Mumbai, Delhi, and Bengaluru also witnessing substantial increases.
The rising demand for gold as a safe-haven investment has further fueled the surge in prices.
Several global and domestic factors are influencing the rising gold rates in Hyderabad.
They are economic uncertainty over the tariffs, economic deficits, and de-dollarization, Trump’s trade policies and geopolitical tensions.
The skyrocketing gold rates in Hyderabad may impact domestic demand as buyers closely monitoring price trends.
The future of gold prices will depend on factors such as US trade policies, Federal Reserve decisions, and global market movements. Any significant changes in these areas could lead to further fluctuations in gold prices.
This post was last modified on January 31, 2025 12:49 pm