Hyderabad: After reaching new lifetime highs by surpassing the Rs 64,000 mark, gold rates in Hyderabad are now experiencing a decline. Today, the rates dipped by 0.35 percent.
In the current month, gold rates fell below the Rs 62,000 mark for the first time today.
Gold rates in Hyderabad reached all-time high on Dec 4
The gold rates reached an all-time high on December 4, not only in the city but also in other parts of the country. However, from December 4 level, it dipped by over 3.5 percent.
Currently, the prices for 10 grams of 24-carat and 22-carat gold are Rs 61,910 and Rs 56,750, respectively.
| Cities | Gold rates in rupees (22-carat) | Gold rates in rupees (24-carat) |
| Hyderabad | 56750 | 61910 |
| Mumbai | 56750 | 61910 |
| Delhi | 56900 | 62060 |
| Kolkata | 56750 | 61910 |
| Chennai | 57200 | 62400 |
Reasons for decline in gold prices
On December 4, the rates for 10 grams of 24-carat and 22-carat gold were Rs 64,200 and Rs 58,850, respectively.
The global decline in gold prices is attributed to the firm US dollar.
As India imports a significant quantity of gold, global prices directly impact the domestic market.
The future direction of gold rates in Hyderabad and other Indian cities depends on many factors, including the Federal Reserve’s decisions on interest rates and the geopolitical situation in the Middle East.
