Hyderabad: Gold and silver rates in Hyderabad and globally surged to record highs on Tuesday, January 27, amid persistent weakness in the US dollar and expectations of rate cuts by the US Federal Reserve.
MCX gold February futures rose 1.48 per cent to Rs 1,58,343 per 10 grams. Meanwhile, MCX silver March futures rose 6.56 per cent to Rs 3,56,670 per kg.
Earlier in the day, gold had peaked at Rs 1,59,820 per 10 grams, up 2.4 per cent, before profit-booking eased the price level.
Gold and Silver Rates in Hyderabad
As of January 27, the rates of the yellow metal are Rs 1,61,950 and Rs 1,48,450 per 10 grams of 24-carat and 22-carat gold, respectively.
Along with gold, silver prices soared sharply. The white metal is currently priced at Rs 3,87,000 per kilogram.
The prices of yellow and white metal are likely to maintain their upward momentum in 2026, driven by prospects of global rate cuts, safe-haven appeal, and firm industrial demand.
In 2026, the surge in prices is likely to continue due to various factors including monetary policy easing, de-dollarisation, and global trade tensions.
International Markets
International markets also saw gold and silver touching record highs, as geopolitical risks drove investors to safe-haven assets. Renewed fears of a government shutdown in the US and President Donald Trump’s new threats of 25 per cent tariffs on South Korean automobiles, lumber, and pharmaceutical imports added fuel to trade tensions. Trump also warned Canada of a 100 per cent tariff if it makes a deal with China.
US gold futures April contracts rose around 1 per cent to $5,113.70 per troy ounce as the dollar index eased by 0.1 per cent, making bullion cheaper in overseas currencies.
Persistent safe-haven demand, steady central-bank accumulation, and expectations of accommodative global monetary conditions continue to underpin prices.
COMEX Silver has surged beyond the $99 mark, registering fresh lifetime highs.
With inputs from IANS
