Gold rates in Hyderabad fall as India-Pakistan tensions ease

Hyderabad: Gold rates in Hyderabad declined significantly on Monday as India-Pakistan tensions eased with ‘Operation Sindoor’ marking a significant demonstration of India’s military and strategic prowess.

The current gold rates in the city are Rs 88,800 and Rs 96,880 per 10 grams of 22-carat and 24-carat yellow metal.

On January 1, the rates were Rs 71,500 and Rs 78,000 per 10 grams of 22-carat and 24-carat yellow metal. This translates to a surge of over 24 percent this year.

Future gold rates in Hyderabad

Due to the huge surge, people have delayed purchasing the yellow metal, expecting a price fall.

Now, as rates have dipped following eased tensions at the India-Pakistan border, people have started considering buying the yellow metal.

Meanwhile, experts remain bullish on future gold rate trends.

Currently, the gold price in the global market is USD 3,262.09 per ounce. Following are price projections by various experts.

Reasons for surge

This year, gold rates in Hyderabad and other parts of the world surged enormously due to global uncertainties and trade wars.

The future price direction depends on possible trade deals, Russia-Ukraine relations, and Middle East stability.

Though gold has declined significantly from its all-time high, given the uncertainty and trade policies, people are shifting investments towards gold, resulting in surging rates of the yellow metal in Hyderabad and other cities.