Hyderabad: Gold rates in Hyderabad have declined by around two percent this month, reaching a one-month low today.
Currently, the rates for 10 grams of 24-carat and 22-carat gold stand at Rs 62,070 and Rs 56,900, respectively.
The rates have dropped to levels last observed in December.
Reason for decline in gold rates in Hyderabad
As India is a net importer of gold, the rates of the yellow metal depend on the international market, which is affected by various factors.
A key factor contributing to the decrease in gold rates internationally, affecting prices in India, is the US inflation data.
The hotter-than-expected US inflation data has led investors to lower their expectations for early Federal Reserve interest rate cuts.
Current yellow metal rates
Presently, gold rates are not only low in Hyderabad but also in various parts of India.
Following are the gold rates in some metro cities:
| Cities | Rate of 10 grams of 22-carat gold (in rupees) | Rate of 10 grams of 22-carat gold (in rupees) |
| Hyderabad | 56900 | 62070 |
| Chennai | 57400 | 62840 |
| Mumbai | 56900 | 62070 |
| Kolkata | 56900 | 62070 |
| New Delhi | 57050 | 62220 |
The future trend of gold rates in Hyderabad and other cities hinges on various factors, including US Federal Reserve rate cuts, geopolitical stability, and domestic factors in India such as increased sales during the marriage season.
