After reaching almost all-time highs, Hyderabad's gold prices fell yesterday and today. The yellow metal's price reached Rs 75,000 on July 17. After that, it decreased by Rs 650.
 
Gold rates in Hyderabad
Ten grams of 22- and 24-carat yellow gold currently cost Rs 68,150 and Rs 74,350, respectively.
 
On May 20, 2024, the prices of 10 grams of 22-carat and 24-carat gold reached their all-time highs of Rs 68,900 and Rs 75,160.
 
Market analysts predict that in the next few days, the price of gold in hyderabad and other indian cities will probably increase.
 
These are the prices in different indian cities.
Yellow metal prices likely to rise
Given that the US is projected to lower interest rates in September, yellow metal rates are probably going to increase.
 
The markets are expected to witness a minimum 25 basis point reduction in interest rates by the Federal Reserve.
 
Furthermore, as long as geopolitical concerns remain, China—the world's largest gold consumer—is likely to resume its gold purchases after pausing in May and June.
 
Whether gold prices in hyderabad and other indian cities will stay rising or fall below the Rs 74,000 threshold is still to be seen.
 
 
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SIBY JEYYA

20/07/2024 07:32 AM