Gold dips significantly in Hyderabad imageGold dips significantly in Hyderabad image

The price of 22-carat gold dropped by Rs 1,900 per 10 gm, while 24-carat saw a decrease of Rs 2,080 per 10 gm. As a result, the current prices stand at Rs 65,700 for 22-carat gold and Rs 71,670 for 24-carat.

Hyderabad: Gold prices in Hyderabad, which have been on a high for a while now, registered a drop over the weekend. A significant decline in rates was recorded on Saturday and the same continued on Sunday too.

The price of 22-carat gold dropped by Rs 1,900 per 10 gm, while 24-carat saw a decrease of Rs 2,080 per 10 gm. As a result, the current prices stand at Rs 65,700 for 22-carat gold and Rs 71,670 for 24-carat.

This decline marks a notable shift from the highs observed on June 7, where the rates for 22-carat and 24- carat gold had reached Rs 67,600 and Rs 73,470 per 10 gm, respectively.

The current rates reflect a 1.21 per cent decrease since the start of June. The primary reason for the fluctuations in prices of the precious yellow metal is being attributed to China’s recent actions in the gold market.

Will prices of yellow metal fall below 70K mark?

Though it is unlikely to fall below the Rs 70 thousand mark in the near future, there is an expectation that the rates may increase, given that Middle East tensions still exist and the Russia-Ukraine war is ongoing.

Recently, Goldman Sachs, an American multinational investment bank and financial services company, raised the forecast for the price of the yellow metal to USD 2700 per ounce by year-end. This forecast was made when the price was around USD 2389.If the forecast of Goldman Sachs turns out to be true, the rates of 10 grams of 22-carat and 24-carat gold in Hyderabad may cross the Rs 75 thousand and Rs 82 thousand marks respectively this year

Here are the prices of gold rates in various cities.

Indian cities22-carat gold rates of 10 grams (in Rs)24-carat gold rates of 10 grams (in Rs)
New Delhi6570071660
Kolkata6555071510
Mumbai6555071510
Hyderabad6555071510
Chennai6635072380

How to gold rate today in Hyderabad?

Today’s Gold Rate in Hyderabad
  1. 22 Carat Gold Rate in Hyderabad (Today & Yesterday) Gram. Today. Yesterday. Price Change. 1 gram. ₹ 6,775. ₹ 6,740. ₹ 35▲ 8 grams. ₹ 54,200. ₹ 53,920. ₹ 280▲ …
  2. 24 Carat Gold Rate in Hyderabad (Today & Yesterday) Gram. Today. Yesterday. Price Change. 1 gram. ₹ 7,114. ₹ 7,077. ₹ 37▲ 8 grams. ₹ 56,912. ₹ 56,616.

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