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Gold rates Hyderabad
Hyderabad: Gold rates in Hyderabad, which recently hit near all-time highs, have dipped over the past two days. On July 17, the price of gold reached Rs 75,000 per 10 grams before declining by Rs 650.
Currently, the prices for 10 grams of 22-carat and 24-carat gold stand at Rs 68,150 and Rs 74,350 respectively. The all-time highs for gold in Hyderabad were Rs 68,900 for 22-carat and Rs 75,160 for 24-carat gold, recorded on May 20, 2024.
Market experts predict that gold rates in Hyderabad and other Indian cities may rise in the coming days.
Current Gold Rates in Various Indian Cities:
| City | 22-carat gold rates of 10 grams (in Rs) | 24-carat gold rates of 10 grams (in Rs) |
|---|---|---|
| New Delhi | 68,300 | 74,500 |
| Kolkata | 68,150 | 74,350 |
| Mumbai | 68,150 | 74,350 |
| Hyderabad | 68,150 | 74,350 |
| Chennai | 68,750 | 75,000 |
Factors Influencing Gold Prices:
Gold rates are expected to rise due to several factors:
- A potential US interest rate cut in September, with markets anticipating at least a 25 basis point reduction by the Fed.
- China, the top consumer of gold, is likely to resume gold purchases after a pause in May and June, driven by ongoing geopolitical tensions.
It remains to be seen whether gold rates in Hyderabad and other Indian cities will continue their upward trend or fall below the Rs 74,000 mark.
