Hyderabad: Gold rates in Hyderabad continued their upward trend today, reaching new all-time highs.
In the city, the rates for 10 grams of 22-carat and 24-carat gold have reached Rs 69,800 and Rs 76,150, respectively.
Gold rates in Hyderabad have increased by over 4 pc in September so far
This month, the price of gold has surged by 4.26 percent. On September 1, the rates for 10 grams of 22-carat and 24-carat gold were Rs 66,950 and Rs 73,040, respectively.
Today, gold rates in the city increased by Rs 200 and Rs 220 for 10 grams of 22-carat and 24-carat gold, respectively.
Below are the current gold rates in various Indian cities:
| Indian cities | 22-carat gold rates of 10 grams (in Rs) | 24-carat gold rates of 10 grams (in Rs) |
| New Delhi | 69950 | 76300 |
| Kolkata | 69800 | 76150 |
| Mumbai | 69800 | 76150 |
| Hyderabad | 69800 | 76150 |
| Chennai | 69800 | 76150 |
Reasons for the surge in rates
The rise in gold rates in Hyderabad and globally can be attributed to positive global cues, market sentiment following a 50-basis-point cut in the US Federal Reserve rate, and expectations of further cuts until 2026.
Additionally, geopolitical tensions, particularly in the Middle East and the Russia-Ukraine war, are contributing to the increase in gold rates.
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As gold prices continue to rise in Hyderabad and other Indian cities, domestic demand for the yellow metal may decline.
Future trends in gold rates will largely depend on several factors, including the Federal Reserve’s decisions and the geopolitical situation in the Middle East.
