Hyderabad: Gold prices in Hyderabad have surged to unprecedented levels, with 24-carat gold crossing the ₹84,000 mark per 10 grams. This sharp rise reflects a nationwide trend, driven by global economic uncertainties and market volatility.
Gold Rates at All-Time High
As of today, 10 grams of 22-carat gold in Hyderabad is priced at ₹77,300, while 24-carat gold has reached ₹84,330. The surge marks an over 8% increase from the beginning of the month when 22-carat gold stood at ₹71,500 and 24-carat gold at ₹78,000.
Similar price hikes have been observed in other major cities, including Mumbai, Delhi, and Bengaluru, where gold rates have reached historic levels.
Key Factors Behind the Price Surge
Several global and domestic factors are contributing to the rising gold prices:
- Economic Uncertainty: Concerns over trade policies, economic deficits, and de-dollarization are driving investors toward gold as a safe-haven asset.
- Geopolitical Tensions: Ongoing global conflicts and trade wars have added to market instability, further boosting gold prices.
- US Trade Policies: Former President Donald Trump’s trade policies continue to have long-term effects on international markets, influencing commodity prices.
- Federal Reserve Decisions: Interest rate policies and inflation control measures by the US Federal Reserve play a crucial role in determining gold’s appeal to investors.
Impact on Domestic Demand
The sharp increase in gold prices may impact local demand as buyers closely monitor price trends. With weddings and festive seasons approaching, jewelers anticipate cautious consumer spending. However, the rising demand for gold as an investment option could sustain high prices in the long term.
What’s Next for Gold Prices?
Experts predict that future gold price trends will depend on global economic conditions, US monetary policies, and geopolitical developments. Any major shifts in these areas could lead to further price fluctuations.
For now, Hyderabad and the rest of India continue to witness record-breaking gold prices, making it a crucial time for investors and buyers to evaluate their options.
