Gold prices in hyderabad began to fall after hitting almost all-time highs as investors redirected their funds towards riskier investments. october saw an increase in yellow metal rates because of the Israel-Hamas conflict that resulted from the october 7 assaults.

Gold rates in hyderabad jumped by over 6 percent in October
Hyderabad's gold prices increased by more than 6% in october as a result of investors switching to the yellow metal, which is seen as a safe-haven investment in times of uncertainty like wars, pandemics, and other events. Prices for 10 grams of 22-carat and 24-carat yellow gold were Rs 57,410 and Rs 62,630, respectively, on october 29.


Why did rates decline now?
The price of gold has dropped to Rs 56,250 and Rs 61,360 per 10 grams of 22-carat and 24-carat gold in hyderabad today. Given that there haven't been any significant unexpected developments in the Israel-Hamas conflict, investors' choice to return to riskier assets is one of the causes of this. Rising bond yields may possibly be the cause of the decline in yellow metal prices in hyderabad and other regions of the world. The rates of yellow metal in the future will still be mostly influenced by the de-escalation of the war between israel and Hamas.
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SIBY JEYYA

09/11/2023 09:00 AM