Hyderabad: Gold rates in Hyderabad and other cities in India have reached an all-time high by crossing the Rs 80,000 mark for 24-carat gold.
The jump in prices is due to multiple reasons, with one of the prominent factors being the concerns surrounding US President Donald Trump’s trade policies.
Gold rates in Hyderabad at all-time high
As of today, the price of 10 grams of 22-carat gold in Hyderabad stands at Rs 75,250, while 24-carat gold has surged to Rs 82,090.
These figures reflect a 5.24 percent increase in gold prices for both 22-carat and 24-carat gold compared to the beginning of the month.
At the start of January, 22-carat gold was priced at Rs 71,500, and 24-carat gold was at Rs 78,000.
Hyderabad’s spike in gold prices is not an isolated event. Other major Indian cities, including Mumbai, Delhi, and Bengaluru, have also experienced significant increases in gold rates.
With gold traditionally viewed as a safe-haven investment, the market has seen a surge in consumer interest across the country.
Key factors driving prices
Several global and domestic factors are contributing to the rising gold rates in Hyderabad and other cities.
Some of these factors include Trump’s plans for tariffs on imports from China and the European Union. Further volatility is expected due to Trump’s tariff plans on imports from Mexico and Canada.
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The skyrocketing gold rates in Hyderabad raise concerns about a potential drop in domestic demand.
The future of gold prices in Hyderabad will largely depend on several factors, including Trump’s trade policy, decisions by the US Federal Reserve, ongoing geopolitical tensions, and global market trends. Any significant developments in these areas could lead to further fluctuations in gold prices.
