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Gold Price in Hyderabad
Hyderabad is one of the most populated cities in India. This historic city is known for its affinity towards gold and gold products. Gold rates in Hyderabad are a direct consequence of global gold rates, which are affected by a wide range of factors such as global production, strength of currency, internal demand of the country, prices of other commodities such as oil, and so on.
Gold in Hyderabad is generally sold as jewelries and related products. This is mainly for individual consumption for occasions such as marriages, festivals, and even as a form of investment strategy for both long and short terms. Returns from gold have ideally been assured and reliable, and this is a big reason why individuals in Hyderabad are preferring gold over other forms of investments such as bank deposits or equity markets.
Trend of Gold Rate in Hyderabad for April 2017 (rates per gram for 24karat gold)
April 2017 - Week 1 (1st - 9th):
- During the first week of April in Hyderabad, rate of gold was not very high. Gold traded at Rs.2,956 per gram on the 1st of April. Gold was steady at this rate the next day as well.
- However, due to fluctuating demands and a decrease in the value of the U.S. Dollar, the rate of gold fell to Rs.2,962 per gram on the 3rd.
- Due to higher demand for this metal, the gold rate in Hyderabad rose to Rs.2,977 per gram on the 4th and continued increasing the next day as well.
- This demand however could not be sustained, and the gold price in Hyderabad fell to Rs.2,972 per gram on the 7th.
- As the first week of April came to an end, the rate of gold declined even further to trade at Rs.2,954 per gram on the last two days of the week.
April 2017 - Week 2 (10th-16th)
- Hyderabad too saw gold prices climb over the second week of April.
- On 10th, gold was selling at Rs.2,958 per gram and then increased to Rs.2,968 per gram on 11th as demand from local retailers and buyers went up.
- The 12th saw gold price in Hyderabad increase sharply - to the tune of Rs.42 per gram - to go up to Rs.3,010 per gram as demand kept going up.
- Comparatively, the 13th only saw a marginal increase, this time by Rs.4 to bring gold prices up to Rs.3,014 per gram.
- On 14th, prices went up again as buyers opted for gold more with uncertainties looming large in the world market.
- Priced reached 3,031 per gram on 14th and then increased by Rs.9 to reach Rs.3,040 per gram on 15th.
- When the second week of April ended in Hyderabad, gold as still trading at Rs.3,040 per gram.
April 2017 - Week 3 (17th-23rd)
- There were quite a few fluctuations noted in the rate of gold during the third week of April in Hyderabad due to a number of factors, chief amongst them being the demand for this metal.
- On the first day of the week, this precious metal traded at Rs.3,034 per gram. However, this price was not sustained and the gold rate in Hyderabad fell to Rs.3,021 per gram the next day.
- A slight recovery in the demand for gold resulted in gold trading at Rs.3,031 per gram on the 19th of April in Hyderabad.
- Due to political tension in Syria and North Korea, this metal traded higher in early trade as investors flocked to safe haven assets.
- On the 20th and 21st of April, the price of gold plunged to Rs.3,020 per gram. However, during the last two days of the week, the rate of gold marginally increased to trade at Rs.3,035 per gram.
Trend of Gold Rate in Hyderabad for March 2017 (rates per gram for 24karat gold)
|March 1st Rate||Rs.2,990 per gram|
|March 31st Rate||Rs.2,940 per gram|
|Highest Rate in March||Rs. per gram on 1st March|
|Lowest Rate in March||Rs.2,900 per gram on 15th March|
March 2017 - Week 1 (1st - 4th):
- Hyderabad saw gold prices change on all four days of March week 1.
- On 1st, gold was trading at Rs.2,990 per gram but increased to Rs.2,994 per gram.
- The 3rd witnessed gold prices drop significantly by Rs.21 per gram to reach Rs.2,973 per gram due to strengthening US dollar.
- On 4th, rates went down again but only by a slight margin to end the week at Rs.2,972 per gram.
March 2017 - Week 2 (5th - 11th):
- Nizam city, Hyderabad, saw one of the worst rates in the entire nation during the second week of March.
- The week began with gold selling at Rs.2,972 per gram but went down to Rs.2,970 per gram on 6th and went down again to trade at Rs.2,949 per gram on 7th.
- Rates picked up on 8th to hit Rs.2,970 per gram but went down to Rs.2,951 per gram on 9th.
- The last two days of week 2 were no respite either as prices of gold in Hyderabad went down again to Rs.2,933 per gram on 10th but slightly improved to reach Rs.2,945 per gram on 11th.
March 2017 - Week 3 (12th-18th):
- During the third week of March in Hyderabad, rate of gold was not very high. Gold traded at Rs.2,949 per gram on the 13th of March.
- However, due to fluctuating demands and an increase in the value of the U.S. Dollar, the rate of gold fell to Rs.2,933 per gram on the 14th. The rate of gold declined even further the next day to trade at Rs.2,900 per gram.
- There was a marginal recovery in the rate of gold on the 16th of March.
- On the 17th, demand for this precious metal picked up and gold traded at Rs.2,935 per gram.
- Rate of gold continued to rise and traded at Rs.2,940 per gram on the last two days of the third week of March in Hyderabad.
March 2017 - Week 4 (19th-25th):
- In Nizam city, Hyderabad, gold rates changed on almost all days of week 4.
- On 20th, gold was trading at Rs.2,947 per gram but fell to Rs.2,931 per gram as demand went down on the 21st.
- Prices rallied against a weakening dollar, which brought about an increase of Rs.40 per gram for the metal to trade at Rs.2,971 per gram on 22nd.
- Rates increased again on the 23rd to reach Rs.2,973 per gram but fell on the 24th to Rs.2,967 per gram as the US dollar strengthened.
- Prices fell once again on the 24th to reach Rs.2,964 as the US dollar kept rallying against the price of gold.
- On the last day of March week 4, gold prices remained unchanged and was trading at Rs.2,964 per gram.
March 2017- Week 5 (26th-31st):
- Gold rate in Hyderabad saw fluctuations as they changed on all days of March week 5.
- On 27th, gold was priced at Rs.2,977 per gram, but went down to Rs.2,971 per gram as domestic demand went down.
- Rates remained the same on 28th and followed the global trend, where gold price in Hyderabad seemed to stabilise.
- On 30th, gold prices went down as international bullion rates tumbled, to reach Rs.2,960 per gram.
- When the week drew to an end on 31st, silver was priced at Rs.2,940 per gram - marking a decrease of Rs.37 from the beginning of the week.
|February 1st Rate||Rs.2,965 per gram|
|February 28th Rate||Rs.3,003 per gram|
|Highest Rate in February||Rs.3,014 per gram on 25th and 26th February|
|Lowest Rate in February||Rs.2,944 per gram on 4th and 5th of February|
February ‘17 - Week 1 (1st to 5th)
- Trends in both national and international markets were an indication of a rise in gold prices due to high demand for this precious metal.
- The price of gold in Hyderabad on the 1st of February was Rs.2,965 per gram which was relatively low as compared to the previous month.
- However, due to fluctuating rates, the price of gold reduced slightly the next day to trade at Rs.2,954 per gram.
- The rate of gold steadily decreased to trade at Rs.2,953 per gram on the 3rd of February.
- Due to a reduction in demand for gold, the price of gold in Hyderabad plunged to a monthly low of Rs.2,944 per gram.
February ‘17 - Week 2 (6th to 12th)
- The rate of gold in Hyderabad in the second week of February also saw an increase due to continuing demand from coin makers and the industrial sector with gold opening the week at Rs.2,955 per gram on 6th February.
- Rates rose even further to trade at Rs.2,980 per gram on the 7th of February and reduced slightly on the 8th with gold trading at Rs.2,979 per gram.
- Rate of gold in Hyderabad increased to Rs.2,982 per gram on 9th February, and continued this way de to fluctuation in markets leading to a rise in the demand for gold. However, gold rate dropped quite a bit the next day.
- This metal traded at Rs.2,964 per gram on 11th February as a slight dip in demand led to prices falling initially and then increasing due to market recovery.
- There was a marginal recovery as the week ended, with gold trading at Rs.2,964 per gram on 12th February.
February ’17- Week 3 (13th to 19th)
- Gold rate in Hyderabad in the third week of February was subject to market fluctuations due to varying cues from markets internationally.
- Gold traded at Rs.2,959 per gram on 13th February and reduced to Rs.2,953 the next day due to market fluctuations.
- Rate of gold continued to reduce the next day as well due to low demand.
- Rates steadied in the next few days, as gold traded at Rs.2,975 per gram on the 16th February.
- Price of gold increased to Rs.2,988 per gram on the 17th due to positive market cues in both international and national markets.
- Due to stable markets and demand, price of gold stabilised to Rs.2,980 per gram on the last two days of the week.
February ’17- Weeks 4 & 5 (20th to 28th)
- Gold was steady at the start of the fourth week due to consistent demand but varied later due to the market fluctuations.
- Gold traded at Rs.2,976 per gram on 20th of February, before falling to Rs.2,973 per gram on the 21st and 22nd of February due to a spike in the demand.
- Prices steadied over the rest of the week, as demand reduced slightly with gold trading at Rs.2,995 per gram on 24th of February.
- A rise in industrial demand from Asia led to gold prices shooting up to Rs.3,014 per gram on the 25th and 26th of February. This was also the highest rate in Hyderabad at which gold traded for the month of February.
- At the end of the month, gold closed at Rs.3,003 per gram and recorded a rise of 1.28% in gold rates throughout the month.
|January 1st Rate||Rs.2,821 per gram|
|January 31st Rate||Rs.2,954 per gram|
|Highest Rate in January||Rs.2,978 per gram on 23rd January|
|Lowest Rate in January||Rs.2,821 per gram on 1st January|
January 2017 - Week 1 (1st - 7th)
- When trading began in Hyderabad on 1st January, gold was trending at Rs.2,821 per gram.
- Prices went up on 2nd due to growing demand to trade at Rs.2,824 per gram.
- Rates again increased on the 3rd as it went up to Rs.2,836 per gram - an increase of Rs.12 per gram over the previous day.
- Prices increased over the next four days as well as the yellow metal was trading at Rs.2,846 per gram on 4th and increased by Rs.15 to trade at Rs.2,861 per gram.
- At the end of the week, gold was trading at Rs.2,872 per gram - a weekly increase of Rs.51.
January 2017 - Week 2 (8th - 14th)
- Gold was still trading at Rs.2,872 per gram when week 2 began and went up to Rs.2,876 per gram on 9th.
- As demand for gold kept increasing, prices went up to Rs.2,892 per gram on 10th and went up by Rs.17 to trade at Rs.2,909 on 11th.
- Gold rates again increased as Donald Trump introduced a travel ban which brought markets down.
- On 12th, gold was trading at Rs.2,925 per gram - an increase of Rs.16 per gram from the previous day’s trading rate.
- On 13th, prices decreased marginally by Rs.3 to trade at Rs.2,922 per gram but it increased on the last day of the week to bring prices up to Rs.2,941 per gram.
January 2017 - Week 3 (15th - 21st)
- Week 3 of January went through some fluctuations as markets kept going up and down for much of the week.
- When trading began on 15th, gold was trading at Rs.2,941 per gram and increased by Rs.13 on 16th to trade at Rs.2,954 per gram.
- The 17th brought about an increase in gold prices as well as it went up by Rs.2,963 per gram and went up by Rs.11 to reach RS.2,974 per gram on 18th.
- The last three days of Week 3 saw prices go down from Rs.2,959 per gram but bounced back on the last day.
- At the end of week 3, gold was seen trading at Rs.2,962 per gram.
January 2017 - Weeks 4 and 5 (22nd - 31st)
- Trading began on 22nd with gold trading at Rs.2,962 per gram and then went up to hit Rs.2,978 per gram on 23rd.
- Prices went down from then on as domestic demand seemed to take a tumble.
- On 25th gold was trading at Rs.2,960 per gram and decreased by Rs.21 to go down to Rs.2,939 per gram.
- The fall in demand continued bringing gold prices for the fourth consecutive day on 27th for gold to trade at Rs.2,913 per gram.
- Prices, however, stabilised and went on an upward path from 28th as it was trading at R.2,934 per gram.
- On 30th prices increased again, albeit slightly by Rs.3 for the metal to trade at Rs.2,937 per gram.
- The month ended on a high with gold trading at Rs.2,954 per gram.
- Overall, the month of January in Hyderabad saw gold prices increase by 4.71%
|December 1st Rate||Rs.2,893 per gram|
|December 31st Rate||Rs.2,821 per gram|
|Highest Rate in December||Rs.2,895 per gram on the 2nd|
|Lowest Rate in December||Rs.2,767 per gram on the 22nd|
December 2016 - Week 1 (1st to 4th):
- In Hyderabad, the month of December saw comparatively less fluctuations as the impact of demonetisation seemed to wear off slowly.
- When trading began on the 1st, gold was trading at Rs.2,893 per gram.
- On 2nd, prices climbed marginally to Rs.2,895 per gram, making this rate the highest for the entire month.
- The 3rd and 4th saw gold prices slump down a little bit as the metal traded at Rs.2,890 per gram.
December 2016 - Week 2 (5th to 11th):
- When week 2 commenced on the 5h, gold prices still remained at Rs.2,893 per gram and continued at the same rate on the 6th.
- However, on the 7th, gold prices saw a significant Rs.29 decrease to bring effective rates down to Rs.2,864 per gram.
- On 8th, prices increased by Rs.7 for gold to trade at Rs.2,871 per gram but slumped down by Rs.20 to Rs.2,851 per gram on the 9th.
- On 10th, prices decreased yet again to hit Rs.2,836 per gram, and remained the same until the end of the week on 11th.
December 2016 - Week 3 (12th - 18th):
- Week 3 began, on 12th, with gold trading at Rs.2,836 per gram as no change was noted compared to previous week’s prices.
- On 13th and 14th, prices decreased to Rs.2,834 per gram but the subsequent day on 15th saw price fall by Rs.29 to reach Rs.2,803 per gram.
- The 16th saw prices go down further more to Rs.2,783 per gram - a Rs.20 decrease from the previous day.
- The 17th began positively as gold was seen trading at Rs.2,791 per gram till the closing hours of the week on the 19th.
December 2016 - Week 4 (19th - 25th):
- On 19th, when week 4 began, gold prices had gone down to Rs.2,787 per gram before increasing by Re.1 on each of the next two days, 20th and 21st, for gold to trade at Rs.2,788 and 2,789 per gram respectively.
- Prices, however, slid down massively by Rs.21 on the 22nd for gold to trade at Rs.2,768 per gram.
- The 23rd didn’t see any change in prices as gold was still trading at Rs.2768 per gram.
- On 24th and 25th, gold prices picked up slightly by Rs.5 as the metal was trading at Rs.2,773 per gram.
December 2016 - Week 5 (26th - 31st):
- Last week of 2016 was a considerably positive period for gold sales in Hyderabad.
- Although there was a slump on the 26th and 31st, the rest of the days saw prices increase steadily.
- Trading began on the 26th at Rs.2,767 per gram before increasing by Rs.2,783 per gram.
- The 28th saw prices further increase by Rs.21 for gold to trade at Rs.2,804.
- On 29th, prices again increased and gold was seen trading at Rs,2,819 which later went up to Rs.2,834 on the 30th.
- The last day of 2016, however, saw prices go down as the nation was busy ringing in the new year.
- At the time of closing on the 31st, gold prices stood at Rs.2,821 per gram.
- All in all, the month of December in Hyderabad saw gold prices decline by -2.48%.
|1st Day||Rs.3,065 per gram|
|Last Day||Rs.2,942 per gram|
|Highest Price||Rs.3,166 per gram from 9th November|
|Lowest Price||Rs.2,914 per gram on 25th November|
November ‘16 – Week 1 (1st-6th)
- On the first of November, gold traded at Rs.3,065 per gram. There was a minor increase noted in the price of gold the next day.
- Next day, rate of this precious metal increased to Rs.3,101 per gram and rose even further the next day.
- There were a few fluctuations noted in the price of gold over the next few days.
- On the last day of the week 1, the price of gold was Rs.3,119 per gram.
November ’16- Week 2 (7th-13th)
- There was a slight decline noted in the price of gold during week 2 of November as compared to the first.
- Prices dropped down to Rs.3,095 per gram and reduced even more thereafter although the price drop was quite minor.
- This could be attributed to a reduction in gold prices due to an increase in market strength.
- Rate of gold declined even further with this metal closing at Rs.3,059 per gram on the last day of the week. There was a slight improvement in the price of gold during week 2 as compared to the first.
November ’16- Week 3 (14th-20th)
- On the day 1 of the third week of November, the price of gold declined slightly to trade at Rs.3,054 per gram.
- Due to sustained demand, gold rate increased by Rs.11 the next day.
- However, this rate increase did not continue and the price of gold dropped the next day and declined steadily after that.
- Gold was priced at Rs.2,986 per gram on the last day of the month.
- Decline in the price of gold could be a result of the recent demonetization rule wherein Rs.500 and Rs.1000 notes were banned.
November ’16- Week 4 (21st-27th)
- Low rate of gold was maintained until the 21st of November after gold traded at Rs.2,974 per gram which was a slight rise as compared to the previous week.
- There were very minor variations noted during the week.
- There was a decline in the price of gold after the 22nd and on the last day of the week, gold traded at Rs.2,936 per gram.
- The lowest rate of gold was observed on the 25th, which was Rs.2,914 per gram.
November ‘16 – Week 5 (28th-30th)
- Gold was priced at Rs.2,951 per gram on 28th of November, after which prices declined even more.
- On November 29th, gold traded at Rs. 2,946 per gram.
- Gold rate closed at Rs.2,942 per gram on the last day of the month which was a decline as compared to the beginning of the month.
- There was a decline of 4.45% in the rate of gold as compared to the beginning of the month.
|1st Day||Rs.3,152 per gram|
|Last Day||Rs.3,067 per gram|
|Highest Price||Rs.3,152 per gram on 1st October|
|Lowest Price||Rs.3,021 per gram on 15th and 16th October|
October 2016 – Week 1 and 2 (1st to 9th)
- This week, gold rates dropped as global trends weakened.
- Gold traded at Rs.3,152 per gram at the start of the week.
- On 7th October, gold prices had fallen to their lowest this week, trading at Rs.3,025 per gram.
- The U.S. Federal Reserve was hawkish about the interest rate hike which caused investors and buyers of gold to be reluctant in the market.
- Gold traded at Rs.3,026 per gram at the end of the week.
October 2016 – Week 3 (10th to 16th)
- Gold prices fluctuated throughout the week.
- Demand in the domestic market experienced a slump period.
- Jewellers and retailers are pinning their hopes on the festive season for demand to pick up.
- Gold traded at Rs.3,038 per gram on 10th October.
- By the end of the week, gold prices had dropped to Rs.3,021 per gram indicating a declining trend.
October 2016 – Week 4 (17th to 23rd)
- Gold traded at Rs.3,023 per gram on 17th October.
- The highest price for this week was Rs.3,053 per gram on 20th October.
- Market trends favoured gold this week as the U.S. Federal Reserve was uncertain about the rate hike till December.
- In the domestic market, demand picked up as buyers began their festive shopping early.
- The week ended with gold trading at Rs.3,046 per gram.
October 2016 – Week 5 (24th to 31st)
- Gold traded at Rs.3,040 per gram at the start of the week.
- Gold prices were on the rise this week as the dollar weakened.
- Gold gained its safe-haven appeal back and demand boomed again.
- Jewellers saw an increase in footfall as the festive season and wedding season kicked off.
- Gold traded at Rs.3,067 per gram from 29th to 31st October.
|1st Day||Rs.3,132 per gram|
|Last Day||Rs.3,169 per gram|
|Highest Price||Rs.3,195 on 8th September|
|Lowest Price||Rs.3,132 on 1st September|
September '16 - Week 1 (1st to 4th)
- Gold prices increased this week as the expectations of a rate hike by the the U.S. Federal Reserve died down as the U.S. economic data proved to be weak.
- Gold traded at Rs.3,132 per gram on 1st September which was the lowest rate for this month.
- As investors flocked to the safe haven investment, gold prices rallied to Rs.3,150 per gram by the end of the week.
September '16 - Week 2 (5th to 11th)
- The increasing trend continued from last week and gold prices climbed gradually.
- As demand for the yellow metal went up, gold reached its highest trading price for the month on 8th September at Rs.3,195 per gram.
- Prices slipped as the U.S. Federal Reserve released hawkish statements indicating the a rate hike might be possible even though the economy was weak.
- Gold settled at Rs.3,181 per gram on 11th September.
September '16 - Week 3 (12th to 18th)
- Prices fluctuated this week as the Fed rate hike was uncertain.
- The global market was dampened by rising expectations of the interest rate hike by the U.S. Federal Reserve.
- Gold traded at Rs.3,171 per gram on 12th September and started to drop.
- Demand in the domestic market experienced a slump.
- Gold traded at Rs.3,146 per gram on 18th September.
September '16 - Week 4 (19th to 25th)
- As the presidential elections of the U.S. draw nearer, the U.S. Federal Reserve put the rate hike off till December.
- The market turned bullish and gold prices soared again.
- Gold traded at Rs. 3,160 per gram on 19th September.
- By the end of the week, gold had gained Rs.26 and traded at Rs.3,186 per gram.
September '16 - Week 5 (26th to 30th)
- Market sentiments turned bearish this week as the dollar gained strength against a basket of currencies.
- Gold traded at Rs.3,185 per gram on 26th September.
- On 28th September, gold had lost Rs.30, trading at its lowest for the week.
- Demand in the domestic market was subdued and the week closed with gold trading at Rs.3,169 per gram on 30th September.
|First Day||Rs.3,215 per gram|
|Last Day||Rs.3,148 per gram|
|Highest Price||Rs.3,224 per gram on 03rd August|
|Lowest Price||Rs.3,148 per gram on 31st of August|
August '16 - Weeks 1 (1st to 7th)
- Gold traded at Rs.3,215 per gram on the 01st of August.
- There was a slight increase in gold rates on 02nd August when gold traded at Rs.3,192 per gram.
- Due to constant demand from the domestic market, gold prices further raised and traded at Rs.3,224 per gram on 03rd August which is the highest gold rate recorded for this month.
- Gold rates fell gradually from 04th to 7th of August due to Fed rate hike speculation.
- Gold traded at Rs.3,171 per gram on 7th August in Hyderabad.
August '16 - Week 2 (8th to 14th)
- A slight decrease was noted on the first day of the weak as gold traded at Rs.3,168 per gram.
- 24k gold traded at Rs.3,197 per gram in Hyderabad which is the highest gold rate recorded this week.
- Gold rate drifted throughout the week as U.S Federal Reserve hinted a interest rate hike.
- Gold prices dipped and settle at Rs.3,181 per gram.
August '16 - Week 3 (15th to 21st)
- No changes was reported on the first day of the week as gold continued to trade at Rs.3,181 per gram.
- The overall trend this week indicating an increase in gold prices. The increasing trend can be attributed to investors shrugging Fed rate hike issue and excellent demand from jewellers and coin makers.
- The highest gold rate for this week was reported on 18th of August when gold traded at Rs.3,207 per gram.
- Gold prices slightly fell during the end of the week and closed at Rs.3,200 per gram.
August '16 - Week 4 (22nd to 28th)
- Gold prices increased for the first three days of the week before gradually declining.
- Gold traded at Rs.3,182 per gram on the 22nd of the August.
- Gold rate started declining from the 24th of August as U.S economy grew stronger.
- Gold closed at Rs.3,164 per gram.
August '16 - Week 5 (29th to 31st)
- A slight decrease was noted on the first day of the week as gold traded at Rs.3,153 per gram.
- Gold price managed to increase on 29th of August as demand from domestic market picked up but quickly decreased and traded at the lowest gold rate for the month.
- Gold rate succumbed to firm dollar and closed at Rs.3,148 per gram on the 31st of August which is the lowest dollar rate recorded in the month of August.
- Traders forecasted that gold will see better days in the second half of the year due to to festive season in india.
Gold is the preferred choice for metal commodity in Hyderabad. Gold rates in Hyderabad follow the trend of all major cities in the country. Buying gold is very easy in the city, as there are lots of stores and dealers who are into selling and buying gold. Investments in gold have become a major component of individual investments in commodities in the city.
Jewelry: Gold jewelries are popular among the residents of Hyderabad. The city offers some of the best options in gold jewelry in the country. Hyderabad, along with Chennai and Bangalore, forms a big portion of gold jewelry demand in southern India.
Coins and bullion: Gold coins can be purchased from various banks in the city. These are also popular with residents in the city, as coins can be purchased in varying purities and weights as well as from a number of places including private dealers. Bullions can be purchased from the large dealers based in the city. These are also available in varying purity and weights, however bullions are generally available in larger quantities of gold.
Commodity exchanges: Gold as a commodity can be traded in various exchanges such as MCX, NSEL or NCDEX. These exchanges are used by residents of Hyderabad for investing in contracts of gold of varying tenures. The contracts are available as spot contracts and futures contracts.
There are plenty of places with history where you can buy gold in Hyderabad. Stores like Jagdamba Pearls, MOR Jewellers, Krishna Pearls and Jewellers are just a few of them. On the other hand, if you want to buy gold you can go with the Multi Commodity Exchange (MCX), which lets you buy 22 karat and 24 karat gold.
Importing gold isn’t possible for everyone and can only be done by a few designated importers such as banks, who sell it to various dealers at a margin in order to recoup the money they have spent. Once they have decided on the margins, banks sell the gold to retailers, who in turn design jewellery and sell them to consumers.
Future rates, as the name suggest, are the rates at which gold is likely to be traded in the future.There are a number of factors that go into deciding future gold rates in a particular city. These factors are as follows:
- Current trends: Although there are no given parameters to decide future rates of gold, current trading rates will be taken into account when traders set the price. Besides this, traders will also look at cues from the global scene and keep track on any gold-related news and that of the US dollar. Analysts will also look at silver rates to ascertain what a future trend could look like.
- Forex rate: The rate at which Indian rupee is being exchanged will also play a part in what future rates could look like.
Although, gold price trends looks bleak for the 2017 in most cities, the case with Hyderabad is slightly different. This is vastly because of the value and demand the metal has in the city. Other aspects that makes a positive trend possible are the decisions that will be taken by US President Donald Trump, all of which are creating massive fluctuations in the market. So, in all likelihood, gold could offer a comparatively good return as long as you decide to sell it within the right time period.
Like every commodity, there’s a tax that has to be paid on gold as well, of which there are three. Below are all of them mentioned for you.
- Capital Gains Tax: Gold trades, in the form of ETFs, incur taxes depending on when and how they are sold. For instance, if gold is sold within 12 months of buying it, the profit will be taxed at 10%. On the other hand, if gold is sold after 36 months, capital gained through the sale will be taxed at 15%.
- Wealth Tax: Gold is considered wealth, and hence it will be taxed. If wealth exceeds more than Rs.30 lakh, a wealth tax of 1% needs to be paid. The valuation for the gold will be done based on the rates on 31st March.
24 karat gold rate (Rs/gram)
24 karat gold price in Hyderabad at the start of the year was Rs.2,696. This price gradually increased over the month and peaked at Rs.2,865 on 21st January. Prices stayed at the same level for the rest of the month, and gradually declined in the months of February and March to reach a low of Rs.2,623 on 18th March. Gold prices saw a mini rally over the next two months and again peaked at Rs.2,802 on 18th May, before ending the month at Rs.2,738.
22 karat gold rate(Rs/gram)
22 karat gold rate in Hyderabad at the start of 2015 was Rs.2,524. Prices rallied throughout the month, and were at peak value of Rs.2,678 on 21st January. Prices declined over the next month, and reached a low of Rs.2,445 on 18th March. Over the months of April and May, gold rate in Hyderabad saw a gradual increase and came to a high of Rs.2,622 on 18th May. Gold price at the end of the month was Rs.2,558.
Also Check Gold Price in NearBy Cities of Hyderabad
|Gold Rate In Warangal||Gold Rate In Vijayawada||Gold Rate In Visakhapatnam|
|Gold Rate In Guntur||Gold Rate In Nellore||Gold Rate In Kurnool|
|Gold Rate In Rajahmundry||Gold Rate In Kakinada||Gold Rate In Proddatur|
|Also Know: Silver Rate in Hyderabad|
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News About Hyderabad Gold Rate
Gold Prices Fall To Below Rs.29,000 On Sluggish Demand
The price of gold continued its descent, falling to below Rs.29,000 for 10 grams on Monday, 13th March, 2017. Gold traded at Rs.28,900 for 10 grams in Delhi, with the dip in price being attributed to a drop in demand from jewellers and poor overseas demand. Silver prices also fell, trading at Rs.40,800 per kg on 13th March, 2017, recording a fall of Rs.180 per kg due to reduced demand from coin makers and industrial units.
The end of the wedding season led to a drop in domestic demand, while global gold prices also fell on sluggish demand. The price of gold in Singapore fell by 0.22% to trade at USD 1,201.10 per ounce. Silver prices also fell, trading at USD 16.89 per ounce, recording a drop of 0.35%.
While spot gold prices fell universally, sovereign gold prices continued to trade high, with the price increasing by Rs.100 to trade at Rs.24,400 for one 8 gram piece.
16th March 2017
Gold traders hoping for GST to usher in lower gold rates
As global cues are changing, gold prices are on the volatile side dipping below Rs.30,000 on Monday to hit Rs.29,750 per 10 grams.
Concerned by this latest turn of events, gold traders are hoping that the imminent introduction of GST will most likely stabilise the rates so as to improve their business.
Gold prices have been on a drop due to a reduced demand in the overseas demand and also due to the wedding season coming to a halt.
The industry to hoping for a tax rate between 1% to 1.5% on gold, though key gold-consuming states like Bihar and Kerala are batting for a 6% tax.
Analysts have, however, suggested that gold prices are likely to fluctuate for much of the year despite hitting a high because a price correction is likely to follow.
10th March 2017
Gold Imports in India Rises to 50 tonnes
In February, gold import in India rose to 50 tonnes. Import this year in February is 82% more than import in February, last year. The increase in import is because wedding season resulted in a rise in gold demand by jewellers. Last year in February, gold import in the country had reduced to 27.4 tonnes. International gold prices fell on Wednesday because dollar increased after comments by US Federal Reserve officers suggested a hike in rates in March.
2nd March, 2017
WGC Report Says Gold Demand Increased in 2016
In 2016, the demand for gold increased by 2% to touch 4309t account to the Gold Demand Trends report released by the World Gold Council (WGC). According to the report, the demand was at its highest level since 2013. The increase was mainly because of gold backed ETFs (Exchange Traded Funds) inflow. Political and economic conditions at the global level also helped in increasing demand by 70%. The fall in prices in November increased the demand of gold coins and gold bars. Even though demand for gold was high, there was a fall in demand for jewellery and central bank purchases. Demand for jewellery fell by 15% and central bank purchases demand fell in by 33%. India saw decline of 21% in customer purchases and China saw a decline of 7%. In India, the demand fell because of several reasons, which includes demonetization. According to market experts, even though 2017 is a challenging year for Indian gold market, the transparency introduced by government will help customers.
10th February 2017
Gold drops following presidential election
Following the results of the US Presidential Election, gold prices have dropped to a surprisingly near-five month low. Gold recorded at $1,212.50 per ounce dropping significantly after a week post-election. The fall is being bases on a stronger US dollar and concerns regarding the interest rates being raised by the Federal Reserve in December. According to analyst, this is a natural turn of events for the yellow metal with the surge of dollar. Some online publishers have also mentioned that the note ban by Indian PM Narendra Modi has caused gold rates to dip, while some are of the opinion that the move has benefited the gold prices.
While analysts claim that gold could fall further below $1,000 an ounce in 2017, they also note that gold could experience a hike as a result of an inflation expectations rise as well as when investors flock the gold market. It is expected to be a volatile and unexpected time in the gold market.
18th November, 2016
Gold Prices Rises Above $1,300 An Ounce Due To U.S Elections
US presidential elections has affected the dollar rate and gold prices across the world. Gold rates rose above $1,300 an ounce this week amid elections in the U.S. Investors and gold traders are confused and anxious about the result of the elections as a win for Donald Trump, a presidential candidate is expected to hurt the US dollar and the yellow metal. According to a report by Reuters, spot gold hit $1,307.76 an ounce which is highest gold rate recorded after October 4th before drifting and settling at $.1,301.63 an ounce. Before the end of the election polls, gold prices strengthened and investors have increased their gold intake despite the expected monetary policy changes by the Federal government by the end of the year. On account of diwali, gold prices in India also surged and gold intake increased by 10% to 20% during the festive season. Investors are now eagerly waiting for the results of the US elections to further invest in the yellow metal.
9th November, 2016
Gold Price Rises to Highest in Two Weeks
In light of the global uptrend and the festive season, Gold saw a rise for the third consecutive day today, the precious metal saw a gain of Rs. 160 today, to trade at Rs. 30,540 per 10 grams. Amid speculation of a hike in the US interest rates and a weakened US Dollar, investors were pushed to buy exchange-traded funds backed by gold, thereby, advancing gold to its highest in two weeks in the global market. An increase in purchases of gold by jewellers in the domestic spot market to keep up with the demand this festive season has bolstered the upswing of gold prices.
26th October 2016
Gold Recovers on Fresh Buying by Jewellers, Silver Rebounds Rs.280/kg
Gold prices recovered by Rs.100 to reach at Rs.31,250 per 10g followed by fresh buying by jewellers. The domestic spot market saw a demand for gold from retailers despite the fall in the metal’s prices overseas. Silver also climbed Rs.280 to Rs.44,700 per kg owing to an increased off-take by coin makers and industrial units.
The recovery in precious metal prices was said to be due to the retailers’ demand for the festive season. In the global market, gold dropped 0.8% to USD 1,320.50 an ounce after Fed chair Janet Yellen commented that there is a high possibility of an increase in interest rate.
30th August 2016
Gold Prices Rise Slowly As Investors Await The Fed’s Decision
The prices of gold did rise but only just as investors continue to wait for the announcements by the US Federal Reserve. It is expected that the fed will not raise the interest rates but the wait for the announcements has turned investments in gold into a waiting game. The price of gold futures for delivery in August came up by 0.1%, or $1.30, to trade at $1,320.80 per ounce. The predictions in the market say that if the cues from the global economy become positive then the price of gold may head towards $1,308 per ounce however if they continue to remain negative then the prices may stay where they are or even rise since gold will retain its status as a safe haven among investors. Even the fact that the price of US dollar has been suffering against other major currencies could lend support to increasing the price of commodities like gold.
28th July 2016
Gold price falls down
Gold price fell down by Rs.50 to Rs.30,750 per ten grams at the bullion market today as a result of lukewarm demand from jewellers at current levels even as metal remained strong overseas. Gold traded higher by 0.19% to $1,337 an ounce in New York in yesterday’s trade. Silver also fell by Rs.200 to Rs.46,500per kg. Gold of 99.5% to 99.9% quality declined by Rs.50 to Rs.30,600 per ten gram and Rs.30,750 per ten grams in the national market.
21st July 2016
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