Hyderabad: The gold rates in Hyderabad declined by over five percent after surging beyond the Rs 1 lakh mark. Last month, the rates broke all-time records nine times.
The current gold rates in the city are Rs 87,550 and Rs 95,510 per 10 grams of 22-carat and 24-carat yellow metal.
On January 1, the rates were Rs 71,500 and Rs 78,000 per 10 grams of 22-carat and 24-carat yellow metal. This translates to a surge of over 22 percent in the current year.
Future gold rates in Hyderabad
In view of the huge surge, people have delayed their purchase of the yellow metal, expecting a price fall.
Now, as the rates have dipped by over 5 percent from the all-time high, people have started considering buying the yellow metal.
Meanwhile, experts remain bullish on the future trends of gold rates.
At present, the gold price in the global market is USD 3,285.55 per ounce. Following are the price projections by various experts.
| Experts | 2025 year-end target (USD/oz) |
| Goldman Sachs | 3700 |
| UBS and Bank of America | 3500 |
| JP Morgan | 3675 |
| Morgan Stanley | 3400 |
Reasons for surge
This year, the gold rates in Hyderabad and other parts of the world surged enormously due to global uncertainties and trade wars.
Another factor supporting gold prices is the weakening of the US dollar. Since gold is priced in dollars, a weaker dollar makes it cheaper for buyers in other countries, boosting its demand.
Video: Hyderabad’s Aramgarh to Zoo Park flyover goes dark
The future direction of the price depends on possible trade deals, Russia-Ukraine relations, and Middle East stability.
Though gold has declined significantly from its all-time high, given 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.
