- Silver prices also fall; investors, dollar strength cited
- Experts link fall to easing global tensions and profit-booking
Gold prices saw a sharp fall in Hyderabad on Wednesday evening. At 5 pm, the price of 24-carat pure gold stood at Rs 1,25,250. This marked a single-day decline of Rs 9,000 compared to yesterday. Meanwhile, 22-carat gold was priced at Rs 1,14,843. The sudden drop followed a recent period when gold had risen to record levels.
Silver prices also declined notably. The price per kilogram fell by Rs 7,000 to Rs 1,58,000. Over the past week, silver prices were down by Rs 28,000. Therefore, both precious metals registered significant corrections within a short timeframe. The parallel movements suggest broad market repricing across bullion.
According to experts cited in the input, several factors contributed to the decline. Investors booked profits after recent highs. The US dollar strengthened. International tensions eased somewhat. These elements together pushed prices lower. Then, global benchmarks reflected the downturn across precious metals.
In international markets, gold dropped to 4,022 dollars per ounce. Silver was at 47.84 dollars. These levels underline the global nature of the correction. Also, they mirror domestic price movements seen in Hyderabad on the same day. Later price action will depend on currency trends, geopolitical signals, and investor flows.
Traders said the swift correction followed an extended rally. They pointed to the scale of the single-day move as unusual but linked to the sharp prior rise. Meanwhile, retail buyers may see the dip as an opportunity to enter at lower levels. However, experts advised caution given continued sensitivity to global cues and currency strength.
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