Gold prices surge in Hyderabad amid falling demand: Check details

Hyderabad: Gold rates in Hyderabad experienced a significant surge on Saturday, February 3, impacting both 22-carat and 24-carat gold prices.

As of today, the rate for 10 grams of 22-carat gold stands at Rs 58,300, reflecting an increase of Rs 150. Simultaneously, the price for 10 grams of 24-carat gold is trading at Rs 63,600, witnessing a hike of Rs 160.

The current silver rate in Hyderabad is recorded at Rs 78,000 per kilogram.

While gold rates in the international market are fluctuating, the local market has also seen a shift. In the past few weeks, leading up to the wedding season, gold prices had been on a declining trend, hovering around Rs 60,000 for 10 grams of 24-carat gold and Rs 55,000 for 10 grams of 22-carat gold.

It’s important to note that the mentioned prices were observed at 8 am and are subject to change later in the day. Investors and enthusiasts are advised to stay updated on real-time rates.

Meanwhile, Indian gold consumption in the October-December quarter fell 4% to 266.2 tons, as a drop in jewellery demand eclipsed higher sales of coins and bars for investment purposes, the World Gold Council said.