Gold Rate rebounds in Hyderabad; silver inches higher
- Silver edges higher; seasonal demand lifts bullion
- Investors book profits earlier; dollar, geopolitics in mix
Gold Rate | Hyderabad, Oct 23: After a sharp single-day fall, gold prices in Hyderabad rebounded on Thursday.
The rate for 10 grams of 24-carat gold rose by Rs 2,000 to Rs 1,27,210. Meanwhile, 10 grams of 22-carat gold was priced at Rs 1,14,650.
The move came a day after a steep drop, reflecting a quick reset as the local market tracked cues and festive-season demand.
Silver prices also moved up. The price per kilogram increased by Rs 3,000 to Rs 1,59,500. Therefore, both gold and silver showed fresh strength following the previous session’s decline.
The uptick aligns with domestic buying ahead of the wedding season and supports the broader bullion complex.
Recent volatility has been driven by profit-booking at prior highs, a stronger US dollar, and a slight easing of global tensions.
Gold Rate
These factors pulled prices down earlier. However, domestic demand has turned supportive as jewellers and households step up purchases. Then, the local momentum helped offset some external headwinds, aiding Thursday’s rebound.
In international markets, gold stood at 4,121 dollars per ounce, while silver traded at 49.18 dollars per ounce.
These benchmarks indicate that global prices remain elevated despite pullbacks. Also, the alignment between overseas and domestic moves suggests continued sensitivity to currency and risk sentiment.
Market participants said near-term trends will hinge on the dollar’s path, US data, and any fresh geopolitical signals.
Meanwhile, local demand remains a key swing factor through the wedding and festival calendar. Therefore, traders expect two-way movement but with buying interest emerging on dips as long as seasonal demand persists.
Where to buy Gold in Hyderabad?
Most of the popular jewelry outlets are located in Panjagutta, Mehdipatnam, Tolichowki, Gulzar Houz in 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.
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