Hyderabad: Gold rates continue to slip in Hyderabad as strong profit booking sets in, with safe-haven demand easing.
The rates have reached near June 1, 2025 levels.
Reasons for dip
One of the major reasons is traders are rushing to sell amid easing Middle East tensions and favorable reports about a trade deal between the US and China.
Apart from that, there are no fresh geopolitical triggers.
Though gold prices have slid from recent highs and reached around one-month lows, silver continues to remain high.
Gold rates trend in Hyderabad
As of Sunday, the price of 10 grams of 22-carat gold in Hyderabad stands at Rs 89,300, whereas 24-carat gold has declined to Rs 97,420.
However, when compared to rates at the beginning of the year, when 22-carat gold was priced at Rs 71,500 and 24-carat gold at Rs 78,000, it is a jump of over 24 percent.
Hyderabad’s spike in gold rates is part of a nationwide trend, with other major cities like Mumbai, Delhi, and Bengaluru also witnessing substantial increases.
The further direction of the gold rates will mainly depend on the US Fed rates and geopolitical tensions across the world, especially in the Middle East.
