Hyderabad: Amid wedding season 2025, the gold rates in Hyderabad have crossed Rs 1 lakh for the first time on Tuesday.
The rising fears over a global trade war and weakness in the US dollar have pushed investors towards the yellow metal.
In less than four months, the yellow metal has given a return of over 29 percent.
Gold rates in Hyderabad spike in two weeks amid wedding season 2025
As of today, the price of 10 grams of 22-carat gold in Hyderabad stands at Rs 92,900, whereas 24-carat gold has soared to Rs 101,350. On April 8, the 22-carat and 24-carat rates were Rs 82,250 and Rs 89,730, respectively. This marks a jump of 12.9 percent in ten days.
At the beginning of the year, 22-carat gold was priced at Rs 71,500 and 24-carat gold at Rs 78,000. So far this year, the yellow metal has surged by Rs 23,350 per 10 grams.
The spike in gold rates in Hyderabad is forcing consumers to delay their plans to buy the yellow metal despite the wedding season in the city.
Speaking to Siasat.com, a resident of Bahadurpura, Hussain, said that despite upcoming weddings in his family, he is delaying purchasing gold and waiting for the gold rates to decline.
Another resident of Attapur, Jameel Khan, said he is going to wait for a few more months to purchase the yellow metal as he expects that the rates will decline.
The city’s spike in gold prices is part of a nationwide trend, with other major cities like Mumbai, Delhi, and Bengaluru also witnessing substantial increases.
Reasons for surge
The rising demand for gold as a safe-haven investment has fueled the surge in rates in Hyderabad and other cities due to an escalating trade war.
Investors across the world are seeking safe-haven assets due to the growing tensions between the United States and China.
Another factor supporting gold prices is the weakening of the US dollar. The dollar index hit a three-year low, making gold more attractive for investors holding other currencies.
Since gold is priced in dollars, a weaker dollar makes it cheaper for buyers in other countries, which will boost its demand.
In view of the uncertainty and trade policies, people are shifting their investments towards gold, resulting in a surge in the rates of the yellow metal in Hyderabad and other cities, thereby impacting sales of the yellow metal despite the wedding season.
