Suspense crime, Digital Desk : If you’re looking to buy or invest in precious metals in Hyderabad, be prepared for slightly higher prices today. The latest rates from the city’s bullion market show an upward trend for both gold and silver, reflecting changes in market dynamics.
Gold Prices Climb
In Hyderabad’s Sarafa Bazar (bullion market) today, the cost of gold has seen an increase.
- 22-Carat Gold: The price for 10 grams of 22-carat gold has risen by ₹300, now quoted at ₹66,750. Yesterday, this was priced at ₹66,450 per 10 grams. Consequently, 1 gram of 22-carat gold is ₹6,675, and 100 grams will set you back ₹6,67,500.
- 24-Carat Gold: For the purer 24-carat gold, the price has also increased. Ten grams of 24-carat gold now costs ₹72,820, up by ₹330 from the previous day’s rate of ₹72,490. This means 1 gram is priced at ₹7,282, and 100 grams stands at ₹7,28,200.
Silver Rates Also See a Jump
It’s not just gold that’s become dearer; silver prices in Hyderabad have also experienced a significant hike.
The price of silver has surged by ₹1,500 per kilogram, reaching ₹97,500. Just yesterday, one kilogram of silver was trading at ₹96,000. This brings the cost of 10 grams of silver to ₹975.
What Influences These Prices?
Gold and silver prices are dynamic and can be influenced by a variety of factors. These include:
Global Market Trends: International gold and silver prices play a major role.
Currency Fluctuations: The strength of the Indian Rupee against the US Dollar can impact import costs.
Local Demand and Supply: Festive seasons, weddings, and local investment sentiment can drive prices up or down.
Government Policies and Taxes: Import duties and other taxes also affect the final price for consumers.
Prospective buyers and investors are always advised to check the current rates from reputable jewelers before making a purchase, as prices can vary slightly between dealers and due to making charges for jewelry.
Read More: Bangalore Gold Shines Brighter: Prices Climb for Third Straight Day, ₹1100 Hike Recorded
