Hyderabad: Gold rates in Hyderabad climbed by over 2 per cent on Thursday, July 2, after nearly six-month low.
On Wednesday, July 1, the prices for 10 gram of 24-carat and 22-carat gold were Rs 1,40,780 and Rs 1,29,050, respectively, which were near the six-month low recorded on January 4.
6-month low gold rates in Hyderabad
On January 4, the prices for 10 gram of 24-carat and 22-carat gold were Rs 1,35,820 and Rs 1,24,500, respectively.
The 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 | 1,31,950 | 1,43,930 |
| Kolkata | 1,31,800 | 1,43,780 |
| Mumbai | 1,31,800 | 1,43,780 |
| Hyderabad | 1,32,500 | 1,44,550 |
| Chennai | 1,34,000 | 1,46,180 |
Metals on MCX
On the Multi Commodity Exchange (MCX), gold futures (August) opened at Rs 1,43,882 per 10 gram.
At around 2 pm, the yellow metal was trading at Rs 1,44,501. During the session so far, gold touched an intraday low of Rs 1,43,771, down 0.45 per cent or Rs 659, and a high of Rs 1,44,980.
According to market experts, investors are waiting for the US non-farm payrolls report for fresh cues on the Federal Reserve’s interest rate trajectory.
Comments from the US Federal Reserve Chairman suggested that there is no urgency to raise interest rates.
The future direction of gold rates in Hyderabad and globally will be decided by the geopolitical situation in the Middle East, economic data from the US market and taxation.
