Gold is not just a precious metal but its rates in Hyderabad, Dubai, Riyadh and other big cities of the world indicate the market trends. The rates of the yellow metal depend on various factors including geopolitical stability, wars, pandemic, uncertainties, etc.
As gold is also a commodity, its rates depend on demand and supply. In case of any uncertainty, the rates of yellow metal increase drastically as investors consider it save heaven.
However, during the market boom period, its rates return to normal as investors start exploring options that can give them higher returns when compared to gold.
Gold rates in Hyderabad
Gold rates in Hyderabad and other cities in India depend on various factors including its currency exchange rates as the country is a net importer of the yellow metal.
If the dollar rate goes up against the rupee, India has to spend more to import gold thereby making the yellow metal costly in the local market.
| Gold rates as on | 22-carat (10 grams) [Change] | 24-carat (10 grams) [Change] |
| May 2 | 55,700 | 60,760 |
Gold rates in Dubai, UAE
A host of factors are responsible for the rise and fall in gold rates in Dubai. The common factors are inflation, tax rates, demand, and supply, etc.
It is a precious metal for both those who buy it for personal use and investors who want to diversify their investments.
When the values of other investment options such as stock, mutual funds, etc go down, the gold value increases thereby reducing the net losses of the investors.
| Gold rates as on | 22-carat (10 grams) [Change] | 24-carat (10 grams) [Change] |
| May 2 | Dirham 2,253 | Dirham 2433 |
Gold rates in Riyadh, Saudi Arabia
The gold rates in Riyadh, the capital of Saudi Arabia, mainly depend on global factors. However, other factors such as inflation, taxes, and demand-supply also plays role in the price movement of the yellow metal.
| Gold rates as on | 22-carat (10 grams) [Change] | 24-carat (10 grams) [Change] |
| May 2 | Riyal 2,320 | Riyal 2,500 |
Gold rates in Doha
As Doha, the capital of Qatar sells gold at tax-free rates, the rates are cheaper when compared to India.
| Gold rates as on | 22-carat (10 grams) [Change] | 24-carat (10 grams) [Change] |
| May 2 | Qatari Riyal 2,315 | Qatari Riyal 2,460 |
Gold rates in Washington
Due to the history of using it as currency, gold is considered a monetary metal. It becomes the most in-demand metal in case of uncertainty in any part of the world.
| Gold rates as on | 22-carat (10 grams) [Change] | 24-carat (10 grams) [Change] |
| May 2 | USD 615 | USD 670 |
