Hyderabad: Gold rates in Hyderabad on Friday surged to levels never seen before as investors turned to safe-haven assets after the US administration announced a 25 per cent additional tariff on Indian imports.
The price of 10 grams of 24-carat gold reached Rs 1,03,310 on Tuesday.
Reason for surge
Bullion traders said that the pick-up in demand by investors helped the rally in the precious metal.
Investors are shifting to gold due to trade tensions following the announcement by the US administration to impose an additional 25 per cent tariff on Indian imports.
Currently, the focus remains on global trade tariffs and fresh Russian sanctions. Both are contributing to elevated gold prices.
Moreover, US President Donald Trump is threatening 100 per cent tariffs on chip imports, and trade tensions are rising. He is likely to announce the next Fed Chair soon. These factors are also contributing to the rise in gold rates.
Gold rates trend in Hyderabad
As of Friday, the price of 10 grams of 22-carat gold in Hyderabad stands at Rs 94,700, whereas 24-carat gold has surged to Rs 1,03,310.
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—this represents a jump of over 32 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 future direction of gold rates will mainly depend on US Fed rates, tariff policy, and geopolitical tensions across the world.
