Hyderabad: Gold rates in Hyderabad have climbed by over 4 percent since the month’s low, which was recorded on July 26.
On July 26, the prices for 10 grams of 24-carat and 22-carat gold were Rs 68,730 and Rs 63,000, respectively.
Gold rates in Hyderabad cross Rs 71K mark
From the month’s low, prices surged and crossed the Rs 71,000 mark on August 13, 2024.
Today, the prices have risen further, with 10 grams of 24-carat and 22-carat gold reaching Rs 71,620 and Rs 65,650, respectively.
Following are the gold rates in Hyderabad and other metro cities.
| Indian cities | 22-carat gold rates of 10 grams (in Rs) | 24-carat gold rates of 10 grams (in Rs) |
| New Delhi | 65800 | 71770 |
| Kolkata | 65650 | 71620 |
| Mumbai | 65650 | 71620 |
| Hyderabad | 65650 | 71620 |
| Chennai | 65650 | 71620 |
Nirmala Sitharaman announced reduction in customs duty rate
Last month, gold rates dropped significantly following the announcement of a reduction in customs duty on the yellow metal.
While presenting the budget, Finance Minister Nirmala Sitharaman announced a reduction in the rate from 15 percent to 6 percent.
Following the significant dip in gold rates, the demand for the yellow metal rose not only in Hyderabad but also in other cities across India.
Amid the prevailing geopolitical situation in the Middle East, various investors are expected to park their wealth in gold, which may further push the rates up.
