Gold Price Today in Hyderabad Continue to Fall for Fifth Day
Gold Price Today | Hyderabad, August 13: Gold prices today in Hyderabad have dropped for the fifth consecutive day, bringing relief to buyers ahead of the festive and wedding season.
After a week of steady gains, gold rates have fallen by nearly ₹2,000 per 10 grams over the past five days.
On Tuesday, 10 grams of 24-carat gold slipped by ₹50, from ₹1,01,400 to ₹1,01,350. Similarly, 22-carat gold declined by ₹50, now priced at ₹92,900. In contrast, 18-carat gold recorded a minor dip of ₹40, settling at ₹76,010.
Silver prices have also softened, falling by ₹100 per kg to ₹1,24,900. Over the last two days, silver has seen a total drop of ₹2,100 per kg, now selling at ₹1,249 per 10 grams.
Gold Price Today
While domestic prices are easing, MCX (Multi Commodity Exchange) saw a slight uptick, with gold futures rising by ₹35 to ₹1,00,192 per 10 grams and silver climbing ₹483 to ₹1,14,220 per kg. In the global market, gold is trading near $3,350 per ounce.
On August 8, pure gold was priced at ₹1,03,310 per 10 grams, but now it stands at ₹1,01,350, marking a ₹1,960 decline in just five days. With the Shravan month underway and a surge in weddings and auspicious events, the price dip comes as welcome news for consumers.
Experts attribute the fluctuations to international market trends, import duties, taxes, and currency exchange rates.
Investors are advised to buy in stages rather than making bulk purchases, while shoppers should look out for offers from jewellery stores to maximize savings.
The mentioned prices here are closing prices of yesterday while today’s price would begin either with a decrease or increase.
Where to buy Gold in Hyderabad?
Most of the popular jewelry outlets are located in Panjagutta, Hyderabad. Jewelry is also viewed as an investment that can be invested for short or long periods. Gold is also considered a mode of investment.
The investor can sell the gold at any point, and the return on investment is guaranteed and reliable. Gold in India tracks international gold prices, while the other two variables remain the rupee rates against the dollar and import duties levied by the government of India.
Some of the well-known jewelry brands are in the city of pearls. The top jewelry houses in the town are Jauhari Jewelers in Toli Chowki, Jagadamba Pearls, Krishna Pearls & Jewelers, Manepally Jewelers, More Jewelers, Tibarumal Jewels, Shree Jewelers, Shri Ram Jewelers, Mangatrai Pearls & Jewelers, and so on.
Disclaimer: The gold rates are sourced from local jewellers in the city. There may be variance in rates and prices. indtoday.com has made every effort to ensure the accuracy of information provided; however, indtoday, its subsidiaries, and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell precious gold. indtoday, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on the gold information provided.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates
