Hyderabad: Gold rates in Hyderabad have crossed the 66 thousand mark for the first time ever.
Not only in Hyderabad but also in other parts of the world, the rates of the yellow metal are rising.
Gold rates in Hyderabad jump by 5% in March
In the current month alone, the rates of the yellow metal have jumped by five percent.
Currently, the rates of 22-carat and 24-carat 10-gram gold in the city are Rs 60,940 and Rs 66,470 respectively.
On March 1, the rates of 22-carat and 24-carat 10-gram gold in the city were Rs 57,900 and Rs 63,160 respectively.
Why do yellow metal rates surge?
There are many reasons behind the surge in gold rates in the city and other parts of the world.
The predominant ones among them are the uncertainties in economies of various countries across the world. Geopolitical tensions are also pushing investors to park their money in gold, which is considered a safe haven.
The future direction of the gold rates in various parts of the world, including Hyderabad, depends not only on geopolitical situations but also on Fed interest rates.
