Gold rates in Hyderabad see reversal in trends

Today, the rates of the yellow metal jumped by over 0.5 percent.

Hyderabad: After declining for six days, gold rates in Hyderabad have reversed their trend. Today, the prices of the yellow metal saw an increase.

Subhan Bakery Instagram

From November 3 to 9, the rates of gold declined by over 1.6 percent, dropping from Rs 61,640 per 10 grams of 24-carat gold on November 3 to Rs 60,760 yesterday.

Gold rates in Hyderabad jumped today

Today, the rates of the yellow metal in Hyderabad jumped by over 0.5 percent.

MS Education Academy

The current gold rates in the city are Rs 56,000 and Rs 61,090 per 10 grams of 22-carat and 24-carat gold, respectively.

Date10 grams of 22-carat (in Rs)10 grams of 24-carat (in Rs)
November 105600061090
November 95570060760
November 85610061200
November 75625061360
November 65635061470
November 55650061640
November 45650061640
November 35660061750
Gold rates in the city

Why did the rates jump now?

Today’s increase in gold rates in Hyderabad can be attributed to several factors including global ones. One of the reasons is bond yields.

Additionally, the festive season in the city is another contributing factor. Dhanteras, a special day in the Hindu calendar, is considered lucky for buying gold, which increases the demand for the yellow metal and pushes up rates in Telangana and other states in India.

Furthermore, geopolitical tensions, including the Israel-Hamas conflict, are also adding to the rising rates of gold in Hyderabad.

Back to top button