As prices in hyderabad hit a one-month low today, gold has been losing its luster over the previous several days. 10 grams of 22-carat and 24-carat gold are now available for Rs 53,900 and Rs 58,800, respectively.

Reasons for the Decline
Given that interest rates are expected to remain high for a considerable amount of time, the rise in the US dollar and Treasury yields may be ascribed to the drop in gold rates. The US dollar has continued to be investors' go-to asset, which has caused huge declines in gold prices. These adjustments have caused gold prices to drop to their lowest level in the previous month. On august 28, the price of 10 grams of 22-carat and 24-carat gold in hyderabad was Rs 54,450 and Rs 59,400, respectively.

Trend of gold Rates in Hyderabad
The price of gold is very close to a six-month low that was last experienced on june 29, 2023. Even if the rates have drastically decreased, the year-to-date (YTD) graph shows that they are still positive. The future direction of gold prices in hyderabad and other indian cities is still unknown due to a number of reasons, including the persistently high-interest rates brought on by increased global inflation. It is unclear if gold prices will keep falling or if they will start to rise once more in reaction to shifting market circumstances.


For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

Telangana Hyderabad

SIBY JEYYA

29/09/2023 08:52 AM