Hyderabad: Gold rates in Hyderabad once again surged on Tuesday, July 22, to hit a near all-time high due to uncertainties.
Amid a pick-up in demand, the price of 10 grams of 24-carat gold reached Rs 1,01,290 on Tuesday.
Reason for surge
Bullion traders said that the pick-up in demand helped the rally in the precious metal.
Moreover, gold rose on Tuesday amid uncertainties related to US tariff policy and a pullback in the US dollar.
Uncertainty also prevails as traders are closely monitoring the US trade agenda alongside key US macroeconomic data.
Gold rates trend in Hyderabad
As of Tuesday, the price of 10 grams of 22-carat gold in Hyderabad stands at Rs 92,850, whereas 24-carat gold has surged to Rs 1,01,290.
However, when compared to rates at the beginning of the year—when 22-carat gold was priced at Rs 71,500 and 24-carat gold at Rs 78,000—it is a jump of over 29 percent.
Hyderabad’s spike in gold rates is part of a nationwide trend, with other major cities like Mumbai, Delhi, and Bengaluru also witnessing substantial increases.
The further direction of gold rates will mainly depend on the US Fed rates, tariff policy, and geopolitical tensions across the world, especially in the Middle East.
