Hyderabad gold prices soar amid global economic fluctuation

Hyderabad Desk

Hyderabad: The price of gold in Hyderabad continues to rise, reaching a one-month high on Monday, March 4, as global economic indicators fluctuate.

The price of 24-carat gold per 10 grams was Rs 64,090 on Monday, continuing to rise from the previous month’s record. Comparably, the cost of 10 grams of 22-carat gold remained at its one-month high of Rs 58,750.

Prices have been stable in the city over the last two days, with the gold rate steadily rising since February 29. This increase is only the third time in the last year that the price of 10 grams of gold in Hyderabad has exceeded Rs 62,500. Before this, the price was Rs 64,200 on December 4, 2023, and Rs 64,250 on December 28, 2023.

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On the other hand, the silver price trend is currently trending lower. The city’s price of silver per kilogram was Rs 77,000 on Monday, indicating a downward trend in the metal’s price.

Numerous cities throughout the nation have reported seeing an increase in the price of gold. This trend, according to reports, comes after the US released weaker economic data last week, which sparked rumours that the Federal Reserve would lower interest rates in June.

As a result, the US currency has depreciated and government rates have fallen, adding to a global increase in gold prices.

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