Gold Rate In Hyderabad Today

  • Today's Gold Rate in Hyderabad ( 01 Jun 2020 )

    ₹ 4,510
    Today's Gold Rate (22K) per gram

    Compare 22K & 24K Gold Rate In Hyderabad (Today & Yesterday)

    Today
    Yesterday
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 4,510 ₹ 4,491 ₹ 19 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 36,080 ₹ 35,928 ₹ 152 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,917 ₹ 4,898 ₹ 19 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 39,336 ₹ 39,184 ₹ 152 ↑

    Daily Gold Rates

    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    01 Jun 2020 ₹ 4,510 ₹ 36,080 ₹ 4,917 ₹ 39,336
    31 May 2020 ₹ 4,491 ₹ 35,928 ₹ 4,898 ₹ 39,184
    30 May 2020 ₹ 4,453 ₹ 35,624 ₹ 4,845 ₹ 38,760
    29 May 2020 ₹ 4,432 ₹ 35,456 ₹ 4,810 ₹ 38,480
    28 May 2020 ₹ 4,432 ₹ 35,456 ₹ 4,810 ₹ 38,480
    27 May 2020 ₹ 4,534 ₹ 36,272 ₹ 4,909 ₹ 39,272
    26 May 2020 ₹ 4,534 ₹ 36,272 ₹ 4,909 ₹ 39,272
    25 May 2020 ₹ 4,509 ₹ 36,072 ₹ 4,901 ₹ 39,208
    24 May 2020 ₹ 4,529 ₹ 36,232 ₹ 4,900 ₹ 39,200
    23 May 2020 ₹ 4,488 ₹ 35,904 ₹ 4,869 ₹ 38,952

    Weekly & Monthly Graph of Gold Rate in Hyderabad

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    *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. We accept no liability for any loss arising from the use of the data contained on this website.

    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 rate 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.

    Hyderabad, the erstwhile Nizam stronghold and the land of the Biryanis, has a long and intimate history with gold. In this page we will cover a few basic details about gold and Gold price in Hyderabad.

    Trend of Gold Rate in Hyderabad for May 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    May 1 Rate Rs.4,670 per gram
    May 23 Rate Rs.4,869 per gram
    Highest Rate in May Rs.4,905 per gram on 21 May
    Lowest Rate in May Rs.4,621 per gram from 2 May
    Overall Performance Incline

    May 2020 - Week 1 (1 - 9):

    • In Hyderabad, a gram of the 24-karat gold was priced at Rs.4,670 at the start of the opening week of May. Compared to the closing price of the previous week, the rate of gold slipped by Rs.50 for every gram in the city.
    • Gold price in Hyderabad slipped to its lowest in the city for the month to date on 2nd May with a gram costing Rs.4,621. The rate of the yellow shot up following that as the bullion’s safe-haven appeal was bolstered because of growing tensions between the United States of America and China.
    • The gold closed the opening week of May in Hyderabad at Rs.4,700 per gram. This was the highest recorded price of the gold for the month to date. Gold’s overall performance in the city witnessed an incline in the rates.

    May 2020 - Week 2 (10-16):

    • Opening the second week of the month at Rs.4,701 per gram on 10 May, gold rate in Hyderabad showed a positive trend throughout the week with investors focused on the bullion market with lower risk appetite and higher safe-haven appeal of the metal. With the number of fresh cases of COVID-19 increasing all over the world, the bullion market serves as safe-haven compared to riskier assets. On 11 May, the price of the metal increased marginally to Rs.4,702 per gram.
    • On 12 May, gold showed a rise in its prices to be priced at Rs.4,731 per gram with investors fearing the second wave of COVID-19 cases all over the world. With more stimulus packages being released by the central banks of various countries to help stabilise the economy, the value of gold was on the rise, increasing to Rs.4,740 per gram on 13 May. Gold price in Hyderabad kept the inclining trend going by increasing by Re.1 to Rs.4,741 per gram on 14 May.
    • The price of gold on 15 May had increased to Rs.4,776 per gram, rising by more than Rs.30 with the tensions between the United States of America and China increasing. With risk appetite amongst investors at a low, gold price in Hyderabad increased further to hit its highest of the week and the month at Rs.4,788 per gram on 16 May, ending the week at the same price.

    May 2020 - Week 3 (17 - 23):

    • Gold opened the third week of May at Rs.4,854 per gram in the city of Hyderabad. Compared to the previous week’s closing price, there was an increase of Rs.66 in the rates of the yellow metal.
    • The yellow metal recorded its highest price for the month till date on 21st May with a gram of the 24-karat gold costing Rs.4,905 in the city. The highest price was recorded after the rates witnessed an inclining trend since the start of the week as the rates of the yellow metal inched up supported by strained relations between Washington and Beijing and gloomy economic outlook.
    • The rates of gold slipped in Hyderabad on 22nd May as investors switched to the safety of cash given doubts of an economic recovery and growing trade tensions between the United States of America and China. The rates recorded a minimal increase on the final day of the penultimate week of May and closed at Rs.4,869 per gram. The overall performance of the yellow metal witnessed an inclining trend in the rates.

    Trend of Gold Rate in Hyderabad for April 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    April 1 Rate Rs.4,150 per gram
    April 30 Rate Rs.4,720 per gram
    Highest Rate in April Rs.4,720 per gram on 30 April
    Lowest Rate in April Rs.4,150 per gram from 1 - 5 April
    Overall Performance Incline

    April 2020 - Week 1 (1 - 4):

    • Gold price remained steady in the city of Hyderabad in the first week of the month. Even though there were constant fluctuations in the international market regarding gold prices, the gold price held steady in the country. The gold rate recovered marginally after the previous month’s low prices with investors selling assets to hoard cash. At the beginning of April, the gold in the city was priced at Rs.4,150 per gram.
    • The rising dollar value in the United States of America had resulted in a dip in the gold prices. However, with investors awaiting the job data in the U.S., gold prices recovered marginally. As the job data from the country turned out to be poor amidst the growing effect of the virus, the poor job data helped recover the price of the metal in the international market.
    • At the end of the first week, the gold rate in Hyderabad was held steady and closed at Rs.4,150 per gram with no incline or decline in prices.

    April 2020 - Week 2 (5 -11):

    • Gold rate in Hyderabad stood at Rs.4,150 per gram on 5th April. There was no change in the rate of gold when compared to the closing price of the previous week. It was the lowest recorded price of the metal for the month of April till date.
    • A gram of gold was retailed for Rs.4,404 per gram in the city on 7th April. The increase in the prices was accounted to expectations of global stimulus measures to counter the economic damage caused by the outbreak of the novel coronavirus.
    • While gold price in Hyderabad had a dip on 9th April, the rates increased gradually over the last few days of the week. Gold recorded its highest price for the month on 11th April with a gram costing Rs.4,423. The increase in the prices was accounted to safe-haven buying ahead of a long weekend and a crucial OPEC meeting.

    April 2020 - Week 3 (12 - 18):

    • Gold price in Hyderabad opened the month at Rs.4,150 per gram and showed an inclining trend. Opening the third week of the month at Rs.4,401 per gram on 12 April, the price of the metal showed a positive trend throughout the week. This was majorly due to investors shifting to the bullion department for its safe-haven appeal.
    • On 14 April, gold rate in Hyderabad increased substantially at Rs.4,451 per gram and increasing further to Rs.4,456 per gram with investors shifting to the bullion market after speculations reoccurring of a possible recession in the market. On 15 April, the price of the metal increased further to be priced at Rs.4,566 per gram even though in the international market the value of the metal dropped after investors started booking profits.
    • The price of gold on 16 April was Rs.4,577 per gram and soon it hit the highest price of the month at Rs.4,598 per gram on 17 April. The rise in prices was due to constant fears of recession and the value of the metal in the international market dropped due to various measures taken by the central banks to counteract the virus. However, at the end of the week, gold price in Hyderabad dropped to a great extent to Rs.4,430 per gram on 18 April, closing at the same rate after President Donal Trump announced measures to be taken to restart the economy in the United States of America.

    April 2020 - Week 4 (19 - 25):

    • Gold opened the week at Rs.4,421 per gram in Hyderabad. The rates were down by Rs.9 for every gram when compared to the closing price of the previous week. The overall performance of the metal witnessed an inclining trend in the city over the week.
    • The rate of gold slipped in the city after recording a minimal increase the following day. The decline in the prices was accounted to a stronger dollar and dash for cash following a historic rout in U.S. crude oil prices. A gram of the 24-karat gold was retailed for Rs.4,411 in the city on 22nd April.
    • Gold price increased in the city over the last three days of the week. It was accounted to expectation of more stimulus from central banks to limit the economic damage caused due to the outbreak of the coronavirus pandemic. The increase in the prices saw the gold closed the penultimate week in Hyderabad at Rs.4,582 per gram.

    April 2020 - Week 5 (26 - 30):

    • Gold rate in Hyderabad opened at Rs.4,593 per gram on 26 April. The price of gold fluctuated throughout the last week of the month due to various factors affecting the price of the metal in the international market. The price of the metal on 27 April increased to Rs.4,700 per gram even though the price of the metal dipped in the international market.
    • Gold rate on 28 April, dipped marginally to Rs.4,691 per gram and recovered on 29 April at Rs.4,701 per gram. The gold price in the international market had dipped due to profit-taking with the higher price of gold.
    • On the last day of the month, gold hit its highest price of the week and the month at Rs.4,720 per gram on 30 April. Gold was headed to hit its highest in 4 years given that central banks all over the world had released stimulus packages to help the economy. Overall, the metal recorded an incline in the month of April.

    Trend of Gold Rate in Hyderabad for March 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    March 1 Rate Rs.4,185 per gram
    March 31 Rate Rs.4,150 per gram
    Highest Rate in March Rs.4,443 per gram on 6 March
    Lowest Rate in March Rs.4,026 per gram on 19 March
    Overall Performance Decline

    March 2020 - Week 1 (01 - 07):

    • Gold opened the first week of March at Rs.4,185 per gram in Hyderabad. The gold prices remained steady compared to the previous month’s closing price. The gold was said to hit its highest price in 7 years due to its safe-haven appeal amidst rising tensions in the economy due to the adverse effect of Coronavirus on the economy. The price of the gold on 2 March had increased marginally to Rs.4,198 per gram on hopes of a potential rate cut by the Federal Reserve in the United States of America.
    • After the metal’s worst one-day fall in the last week of February due to extensive profit booking amongst investors, gold prices were set to hit new records in the first week of March. With the fears of Coronavirus increasing with its effect on the economy, gold prices had increased to Rs.4,215 per gram on 3 March, further increasing by more than Rs.100 to Rs.4,361 per gram on 4 March. This was majorly due to the United States Federal Reserve cutting down interest rates to support the economy.
    • On 5 March, the gold prices had dipped marginally to Rs.4,343 per gram despite positive global trends due to the decreased local demand amidst the wedding season in the country. However, the gold bounced back on 6 March by increasing to Rs.4,443 per gram as investors shifted to the bullion market due to its increasing safe-haven demand. The metal closed the first week of the month at Rs.4,417 per gram on 7 March.

    March 2020 - Week 2 (8 - 14):

    • In Hyderabad, gold opened the second week of March at Rs.4,417 per gram. The metal’s price remained steady when compared to the closing price of the previous week. Even though, gold prices jumped past the $1,700 per ounce level for the first time since late 2012 on 9 March, the rates slipped in Hyderabad with every gram of the 24-karat gold costing Rs.4,408.
    • The rates of the yellow metal jumped to Rs.4,427 per gram on 10 March as risk sentiment improved and the dollar firmed on expected global support measures to allay the economic impact due to coronavirus.
    • Gold prices were on the downward curve following that as fears over the economic toll of the coronavirus outweighed an uptick in equity markets following an interest rate cut from the Bank of England. The United States announcing a travel ban from virus-hit Europe also played its part in the decline of the prices.
    • The yellow metal closed the week at Rs.4,131 per gram in Hyderabad. This was the lowest price of gold for the month of March till date. The overall performance of the precious metal in the city showed a declining trend in the prices.

    March 2020 - Week 3 (15 - 21):

    • Gold prices in Hyderabad opened the third week of March at Rs.4,131 per gram on 15 March and with the United States Federal Reserve’s decision to cut down the repo rates, the price of the gold metal increased to Rs.4,160 per gram on 16 March. However, the gold price dipped to Rs.4,064 per gram on 17 March as the rate cut did not make the difference it was intended to. Investors hoarded for liquidity and sold their assets to gear up for the lockdowns by the countries due to the virus.
    • The rate of the gold in the city increased marginally to Rs.4,136 per gram on 18 March due to the aftereffect of the rate cut by the United States Federal Reserve. However, the gold rate hit its lowest on 19 March on the day the European Central Bank stated that there will be adequate measures to be taken to combat the virus and its effect on the economy. However, with palladium hitting its lowest price in 18 years, gold prices fell drastically too.
    • The gold prices increased marginally to Rs.4,104 per gram on 20 March with the ECB taking the measures to help mitigate the losses from the virus in the economy. With minimalised safe-haven demand, the price of the gold increased at the end of the week and closed at Rs.4,161 per gram on 21 March.

    March 2020 - Week 4 (22 - 31):

    • Gold prices in Hyderabad opened the fourth week of March at Rs.4,164 per gram. There was no change in the rates of the yellow metal when compared to the closing price of the previous week.
    • The rates slipped the next day as some investors booked profits after prices hit a two-week high in the last session amid hopes for further stimulus to curb the coronavirus economic toll.
    • The drop in the prices continued the next day before remaining stagnant until the end of the week as the government imposed a 21-day lockdown in a bid to contain the spread of the deadly virus which has engulfed many countries across the world. The rates closed the week at Rs.4,150 per gram in Hyderabad. The overall performance showed a declining trend in the prices.

    Trend of Gold Rate in Hyderabad for February 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    1st February Rate Rs.4,077 per gram
    29th February Rate Rs.4,185 per gram
    Highest Rate in February Rs.4,305 per gram on 24 February
    Lowest Rate in February Rs.4,030 per gram on 6 February
    Overall Performance Incline

    February 2020 - Week 1 (1 - 9):

    • Opening the first week of the month, gold prices in Hyderabad was Rs.4,077 per gram with a marginal rise in prices compared to the previous week. Gold held on to its positive trend as demand increased due to safe-haven appeal amidst fears of the Coronavirus.
    • On 4 February, the price of the gold dipped marginally to Rs.4,071 per gram and decreased further for the next two days. This was majorly due to China taking measures to counteract the impact of the virus on the economy of the country. Amidst the fears of the virus, talks of a possible vaccine to treat the virus also provided a boost to the economy temporarily. On 6 February, the price of gold hit its lowest weekly price at Rs.4,030 per gram.
    • On 7 February, gold prices recovered marginally to Rs.4,059 per gram and increased to Rs.4,093 per gram on renewed fears of the Coronavirus as the number of people affected increased along with a greater number of deaths. Investors shifted to the bullion market for their investments due to increased safe-haven appeal.

    February 2020 - Week 2 (10 - 16):

    • In Hyderabad, gold rate opened the second week of February at Rs.4,079 per gram. The rates dropped by Rs.14 for every gram when compared to the closing price of the previous week.
    • With investors’ risk appetite increasing following reports of a decline in confirmed new coronavirus cases, the rates slipped in the city. Gold was priced at Rs.4,057 per gram on 12 February.
    • The rates closed the week at Rs.4,120 per gram after the prices increased in the latter half of the week given the sudden increase in the number of deaths and infections due to coronavirus in China. Gold witnessed an incline in the prices over the week in Hyderabad.

    February 2020 - Week 3 (17 - 23):

    • In Hyderabad, gold opened the second week of February at Rs.4,079 per gram. The rates dropped by Rs.14 for every gram when compared to the closing price of the previous week.
    • With investors’ risk appetite increasing following reports of a decline in confirmed new coronavirus cases, the rates slipped in the city. Gold was priced at Rs.4,057 per gram on 12 February.
    • The rates closed the week at Rs.4,120 per gram after the prices increased in the latter half of the week given the sudden increase in the number of deaths and infections due to coronavirus in China. Gold witnessed an incline in the prices over the week in Hyderabad.

    February 2020 - Week 4 (24 to 29):

    • Gold opened the fourth week of February at Rs.4,305 per gram in the city of Hyderabad. This was the highest recorded price of the metal over the month of February. Compared to the previous month’s closing price, the rates increased by Rs.29 for every gram of the 24-karat gold.
    • The rates of the yellow metal slipped over the next two days and cost Rs.4,262 per gram in Hyderabad. With investors seeking refuge in safe-haven assets following a U.S. warning of an inevitable pandemic, the rates jumped to Rs.4,286 per gram on 27 February.
    • The rates closed the week at Rs.4,185 per gram after the prices dropped following that as worries intensified that the rapidly spreading coronavirus could turn into a pandemic and derail global economic growth.

    Trend of Gold Rate in Hyderabad for January 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.3,922 per gram
    January 31 Rate Rs.4,074 per gram
    Highest Rate in January Rs.4,125 per gram on 8 January
    Lowest Rate in January Rs.3,919 per gram on 2 January
    Overall Performance Incline

    January 2019- Week 1 (01 - 05):

    • In Hyderabad, gold prices opened the month of January at Rs.3,922 per gram which was marginally lower than the closing price of December at Rs.3,925 per gram. However, in the first week of the month gold prices showed an inclining trend almost hitting the highest prices in 7 years.
    • The price of the metal after decreasing marginally to Rs.3,919 per gram on 2 January, increased to Rs.3,983 per gram on 3 January due to a fall in the value of the dollar. As the stock markets were hit, investors looked to the bullion for safe-haven appeal.
    • On 4 January, gold prices increased even further to Rs.4,024 per gram due to escalating tensions in the Middle East after President Trump’s drone strike on Iran which killed their army commander. Gold closed the first week of the decade at Rs.4,024 per gram.

    January 2019- Week 2(06 - 12):

    • Hyderabad saw a declining trend in gold prices in the second week of the month at Rs.4,091 per gram. The precious metal’s prices dipped marginally on 7 January to Rs.4,035 per gram due to speculations on the ongoing tension between Iran and the United States of America.
    • However, the price of the metal increased to hit its highest price in the month till date on 8 January. At Rs.4,125 per gram, gold prices were at monthly high as investors awaited on further developments on U.S. retaliation to the attack by Iran on the United States army camp. United States President Donald Trump then decided to ease the tensions rather than escalating them further.
    • On 10 January, on positive market trends, gold prices dipped to Rs.3,983 per gram, close to the lowest price in the month. Investors shifted from the bullion to the market due to increased risk appetite. On 12 January, the yellow metal recovered marginally and closed the week at Rs.4,011 per gram.

    January 2019- Week 3(13 - 19):

    • Hyderabad saw an inclining trend in gold prices in the third week of the month at Rs.3,991 per gram. The precious metal’s prices dipped marginally when compared to its previous week’s closing price. This was majorly due to investors shifting to the stock market with an increased risk appetite amidst the trade deal being signed between the U.S. and China.
    • The price of the yellow metal fluctuated heavily with minor inclines and declines in the next two days of the week. After dipping to Rs.3,952 per gram on 14 January, gold prices increased to Rs.3,991 per gram on 15 January. This was due to the speculation by investors on the unresolved issues in the trade deal.
    • On 17 January, the price of the metal increased to Rs.3,999 per gram and increased to Rs.4,019 per gram on 18 January as geopolitical tensions grew in the Middle East with a drone and an army strike in Yemen killed more than 100 soldiers. The price of the metal increased due to an increase in safe-haven appeal amongst investors. The metal closed at the same price on 19 January.

    January 2020- Week 4 (20 - 26):

    • Consumers residing in Hyderabad were required to pay Rs.4,011 for every gram of gold at the start of the fourth week of January. Compared to the previous’ week closing price, the rates of the yellow metal dropped by Rs.8 for every gram.
    • The rates witnessed sharp increase and decrease over the next two days. While the increase was accounted to investors seeking refuge in the safe-haven metal rates, the decline in the prices was due to investors assessing the risk of coronavirus becoming a global epidemic.
    • Over the remaining days of the week, gold prices showed minor jump despite concerns regarding the outbreak of the deadly coronavirus in China and growing tensions in the Middle East. Gold closed the week at Rs.4,055 per gram in Hyderabad.

    January 2020- Week 5 (27 - 31):

    • Opening the fifth week of the month, gold prices in Hyderabad was Rs.4,070 per gram with a marginal rise in prices compared to the previous week. Gold held on to its positive trend in demand and prices as fears of the Coronavirus spread through the world with many more cases and deaths being reported.
    • Investors shifted to the bullion as fears rose due to the outbreak along with waiting on developments on the rate cuts by the United States Federal Reserve. The price of the metal decreased on 28 January to Rs.4,066 per gram and then to hit its lowest weekly price at Rs.4,030 per gram on 29 January.
    • This was majorly due to positive data of manufacturing in China which resulted in the dip in gold prices. However, the effect of the data did not last long due to the fear of the virus outbreak. The price of the metal increased and closed the month at Rs.4,074 per gram.

    Trend of Gold Rate in Hyderabad for December 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    December 1 Rate Rs.3,828 per gram
    December 29 Rate Rs.3,803 per gram
    Highest Rate in December Rs.3,830 per gram on 5 December
    Lowest Rate in December Rs.3,771 per gram on 11 and 13 December
    Overall Performance Decline

    December 2019- Week 1 (1 - 8):

    • In Hyderabad, gold prices opened the week at Rs.3,806 per gram. There was a drop of Rs.15 for every gram when compared to the previous day’s closing price.
    • The rates of the yellow metal witnessed a lot of fluctuations as there was no clear signs of a trade deal between the United States and China.
    • With traders waiting for further developments regarding the trade deal, the prices dropped to its lowest for the month on 29 November with every gram costing Rs.3,803 in the city. Gold prices closed the week with a declining trend in its prices at Rs.3,828 per gram.

    December 2019- Week 2 (9 - 15):

    • Gold prices in Hyderabad opened the second week of December at Rs.3,780 per gram. The rates of the yellow metal witnessed a drop of Rs.13 for every gram when compared to the previous day’s closing price.
    • The prices continued to fall over the next two days as investors waited for clarity regarding fresh US tariffs on Chinese products. The rates of gold dropped to Rs.3,771 per gram, the lowest recorded price for the month till date.
    • In Hyderabad, gold prices closed the week at Rs.3,803 per gram after the rates increased in the last couple of days of the week. The overall performance of the yellow metal in Hyderabad was trending downwards.

    December 2019- Week 3 (16 – 22):

    • Gold prices in Hyderabad saw an inclining trend in the third week of December opening at Rs.3,796 per gram and increased marginally to Rs.3,806 per gram on 17 December due to trade uncertainties between the U.S. and China.
    • On 18 December, the price of the metal increased to Rs.3,814 per gram due to mixed hints in the market with a positive job data in the United States which increased risk appetite amongst investors.
    • Following the vote from the House of Representatives on the impeachment of United States President, Donald Trump, the investors shifted from the stock market to the bullion. Due to this, the demand for the metal increased, closing the week at Rs.3,819 per gram.

    December 2019- Week 4 (23 - 29):

    • Gold prices in Hyderabad saw an inclining trend in the third week of December opening at Rs.3,796 per gram and increased marginally to Rs.3,806 per gram on 17 December due to trade uncertainties between the U.S. and China.
    • On 18 December, the price of the metal increased to Rs.3,814 per gram due to mixed hints in the market with a positive job data in the United States which increased risk appetite amongst investors.
    • Following the vote from the House of Representatives on the impeachment of United States President, Donald Trump, the investors shifted from the stock market to the bullion. Due to this, the demand for the metal increased, closing the week at Rs.3,819 per gram.

    Trend of Gold Rate in Hyderabad for November 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    November 1 Rate Rs.3,892 per gram
    November 30 Rate Rs.3,828 per gram
    Highest Rate in November Rs.3,892 per gram on 1 November
    Lowest Rate in November Rs.3,803 per gram on 12 and 29 November
    Overall Performance Decline

    November 2019- Week 1 (01-03):

    • In November, gold opened the month in Hyderabad at Rs.3,890 per gram all set to hit the weekly high amidst trade uncertainties between the United States of America and China, along with a falling dollar.
    • However, positive factory data from China and increased applications of unemployment benefits within the United States of America lifted the risk appetite for investors.
    • On 2 November, the price of the metal decreased marginally to Rs.3,890 per gram and stayed steady on 3 November as well.

    November 2019- Week 2 (04-08):

    • In Hyderabad, gold prices saw a declining trend in the second week of November. Opening the month at Rs.3,892 per gram, the price of gold decreased to Rs.3,886 per gram on 4 November. On 5 November, gold prices decreased marginally to Rs.3,879 per gram as the value of the U.S. dollar increased.
    • Due to renewed trade optimism on the trade deal between the United States of America and China, the price of gold on 6 November, decreased to Rs.3,841 per gram and increased marginally to Rs.3,860 per gram on 7 November due to uncertainties in the trade deal.
    • Gold prices hit monthly lows on 8 November at Rs.3,817 per gram due to a strong dollar value in the market and positive cues on the trade deal shifted investors to the market and dented demand for the precious metal.

    November 2019- Week 3 (09-17):

    • Gold opened the third week of November at Rs.3,812 per gram in Hyderabad. Compared to the previous week’s closing price, there was a decline of Rs.5 for every gram.
    • The decline in the rates of the yellow metal continued in the following days due to positive developments in the trade talks between Washington and Beijing.
    • Gold prices plummeted to a 3-month low on 12 November after the price for every gram came down to Rs.3,803. The decline in the prices was accounted to an upbeat risk appetite from investors in the hope of positive developments regarding the trade deal.
    • However, with investors shifting to the bullion as a safe-haven asset, the rates of the precious metal recovered slightly before closing the week at Rs.3,827 per gram.

    November 2019- Week 4 (18 - 24):

    • In Hyderabad, gold prices at the beginning of the week were Rs.3,818 per gram and increased to Rs.3,841 per gram on 19 November. This was majorly due to the trade tensions increasing amongst investors due to the impeachment inquiry on the President of the United States of America.
    • On 22 November, the price of the metal dipped to Rs.3,819 per gram due to positive cues in the trade deal after China invited officials of the United States of America for a face-to-face sit down to discuss the deal further.
    • Gold closed the week with a declining trend in its prices at Rs.3,821 per gram as the value of the dollar increased in the market due to strong U.S. jobs data. This temporarily removed the speculations of another rate cut by the United States Federal Reserve.

    November 2019- Week 5 (25 - 30):

    • In Hyderabad, gold prices opened the week at Rs.3,806 per gram. There was a drop of Rs.15 for every gram when compared to the previous day’s closing price.
    • The rates of the yellow metal witnessed a lot of fluctuations as there was no clear signs of a trade deal between the United States and China.
    • With traders waiting for further developments regarding the trade deal, the prices dropped to its lowest for the month on 29 November with every gram costing Rs.3,803 in the city. Gold prices closed the week with a declining trend in its prices at Rs.3,828 per gram.

    Trend of Gold Rate in Hyderabad for October 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    Rate on 1st October Rs.3,722 per gram
    Rate on 31st October Rs.3,857 per gram
    Highest Rate in October Rs.3,869 per gram on 28 October
    Lowest Rate in October Rs.3,722 per gram on 1 October
    Overall Performance Incline

    October 2019- Week 1 (1-6):

    • A drop in local demand and static jeweller interest saw gold rate in Hyderabad open unchanged at Rs.3,722 per gram before rising to Rs.3,786 per gram on 2 October.
    • Escalations in tensions with Iran and weak U.S. jobs data bolstered demand for safe-haven assets, as gold price in Hyderabad climbed to Rs.3,818 per gram on 4 October.
    • Fears over slow economic growth and weak manufacturing data kept equities weak as bullion demand grew, with gold price ending the week at Rs.3,830 per gram.

    October 2019- Week 2 (7-13):

    • Gold price in Hyderabad opened the month at Rs.3,722 per gram and bounced back in the second week of October as trade tensions increased between the United States of America and China.
    • Gold rate in Hyderabad hit the weekly high on 9 and 10 October priced at Rs.3,848 per gram as due to tensions running in the Middle East and increased local demand which made investors shift focus to the bullion.
    • However, due to renewed optimism in the trade talks between the United States of America and China and tensions increasing with Brexit, the price of the bullion decreased, closing the week at Rs.3,826 per gram.

    October 2019- Week 3 (14-20):

    • The price of the precious metal in Hyderabad opened the third week at a marginally low price of Rs.3,822 per gram due to investors seeing positive signs in the trade talks between China and the United States of America, leading to the lifting of risk appetite.
    • However, on 15 October, gold prices hit its weekly high at Rs.3,856 per gram as the markets waited for the talks between Great Britain and the European Union for Brexit shifting the focus from the trade talks between the United States of America and China.
    • The price of the yellow metal decreased marginally towards the end of the week, closing the week at Rs.3,849 per gram due to investors booking profits as Great Britain signed a new deal with the European Union.

    October 2019- Week 4 (21-27):

    • Gold prices in Hyderabad opened the fourth week of October at Rs.3,845 per gram and dipped to Rs.3,826 per gram on 22 October due to renewed hopes on the trade deal between the United States and China which increased risk sentiment amongst investors.
    • However, the precious metal’s prices increased on the following day on 23 October and 24 October at Rs.3,846 per gram, being steady as investors awaited a decision to be made on the Brexit deal between Great Britain and the European Union.
    • Due to weak economic data from the United States of America and increased local demand ahead of the festive season, the price of gold increased to Rs.3,872 per gram on 26 October and closed at the same price.

    October 2019- Week 5 (28-31):

    • Gold opened the last week of October at Rs.3,869 per gram decreasing from the previous day’s closing at Rs.3,872 per gram due to renewed optimism on the trade talks between the United States of America and China.
    • The price of the metal plummeted on 29 October to Rs.3,836 per gram due to a strong dollar and positive cues on the trade talks. Gold prices recovered on 30 October to Rs.3,847 per gram as trade talk hopes faded resulting in a fall in the value of the dollar.
    • Closing at Rs.3,857 per gram, gold showed a positive trend to end the week and the month due to a 1% interest rate cut by the United States Federal Reserve due to weak economic data.

    Trend of Gold Rate in Hyderabad for September 2019 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    September 1 Rate Rs.3,481 per gram
    September 30 Rate Rs.3,876 per gram
    Highest Rate in September Rs.3,913 per gram on 29 September
    Lowest Rate in September Rs.3,481 per gram on 1 September
    Overall Performance Incline
    Percentage Change 11.34%

    September 2019- Week 1 (1-8):

    • Gold price in Hyderabad opened higher at Rs.3,876 per gram on positive overseas cues and steady jeweller demand ahead of the festive season, but retail offtake remained weak.
    • Gold rate in Hyderabad rose to Rs.3,953 per gram on 4 September as weak U.S. manufacturing data dampened equity demand but a possible end to the U.S.-China trade dispute saw prices drop to Rs.3,885 per gram on 6 September.
    • The downward slide continued for the rest of the week as investors reduced bullion offtake, resulting in the metal ending the week at Rs.3,855 per gram.

    September 2019- Week 2 (9-15):

    • Weak local demand and rising prices put off bullion buys, as gold rate in Hyderabad opened lower at Rs.3,842 per gram despite the festive season.
    • A rise in U.S. Treasury yields bolstered equity sentiment as investors moved to riskier assets over bullion, reflected in the gold price falling to Rs.3,816 per gram on 11 September.
    • Gold price in Hyderabad continued to drop as industrial demand also faltered, with gold falling to Rs.3,799 per gram on 12 September before ending the week at Rs.3,763 per gram on 15 September.

    September 2019- Week 3 (16-22):

    • Weak local demand and rising prices put off bullion buys, as gold price in Hyderabad opened lower at Rs.3,807 per gram despite the festive season.
    • A rise in U.S. Treasury yields bolstered equity sentiment as investors moved to riskier assets over bullion, reflected in the metal’s price falling to Rs.3,790 per gram on 17 September.
    • Prices continued to drop as industrial demand also faltered, with gold rate in Hyderabad falling to Rs.3,799 per gram on 20 September before ending the week at Rs.3,794 per gram on 22 September.

    September 2019- Week 4 (23-30):

    • Steady industrial interest in bullion saw gold price in Hyderabad open at Rs.3,904 per gram on 26 September but fluctuations in the dollar rate resulted in the metal dropping to Rs.3,875 per gram on 27 September.
    • Retail sales were low due to high import costs but overseas support and a weak rupee buoyed the gold, which rose to Rs.3,913 per gram on 29 September.
    • Economic slowdown fears and the U.S.-China trade war increased gold’s safe-haven appeal though prices dipped to Rs.3,876 per gram when the month ended on 30 September.

    Also Check Gold Price in Metro Cities

    Ways to invest in gold in Hyderabad

    As one of the fastest developing cities in the country, Hyderabad offers plenty of opportunities for all sorts of gold investors: be it for the large jewellery-buying consumers or for the investment-oriented entities. People can invest in a range of assets like gold coins, jewellery, gold bullions (bricks), and gold ETFs.

    Things to Know before investing in Gold in Hyderabad

    No matter how much Indians grow, their obsession is never likely to end. So, in this section, we will tell you about some of the things you should keep in mind when investing in the metal:

    • How pure is the gold: There are different purity levels to gold 14 karat, 18 karat, 22 karat, and 24 karat. A 24 karat gold is the purest form of gold available and is likely to cost considerably more when compared to the others.
    • Do you know the labour charges involved: One of the many ways jewellers earn their money is charging labour charge on a piece of jewellery. The maker charges a certain amount depending on the type and the complexity of the piece in question. Making charges will be added to the final price of your purchase. To know more about it, analyse your bill carefully or talk to your jeweller the next time you’re making a purchase
    • Certification In Place?: Gold is certified and authenticated by the Bureau of Indian Standards, which main aim is to make sure that you - the customer - aren’t fleeced by the jeweller for a substandard or fake product. The BIS certifies the gold a jeweller is selling based on their purity levels. When you’re making a purchase, make sure to check the purity levels before buying.
    • When you are purchasing: The timing of your purchase can have a bearing on how much your jewellery could cost. For instance, during festive seasons when demand is high, you are likely to spend more as opposed to buying during the off season. Also be on the lookout for additional offers which reputed jewellers put up from time to time.
    • Keep the weight in mind: When a jewellery is weighed before a sale, any other stones used (emerald, diamond etc) will also be included in the pricing. This may increase the price of your jewels further. So, keep this in mind when purchasing studded jewellery.

    Gold as an Investment in Hyderabad

    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.

    Factors that Affects the Gold Prices in Hyderabad

    There are a lot of factors involved in gold trading and the prices slapped on the metal in various cities. Hyderabad, in this case. Here’s a list of all of these factors:

    • Rupee vs Dollar

    India is the second largest importer of gold in the world, and it mostly uses the US dollar to pay for a particular trade. If the rupee is weaker against the dollar at a given point in time when a trade is happening, gold prices are expected to be higher. This is because importers have to pay more rupees to make the purchase. Also, the same will trickle down to the end user who buys gold as well. On the other hand, if the US dollar is weaker, gold is expected to cost comparatively less.

    • Logistics

    When we say logistics, we mean to emphasise the time since gold is imported to the time it makes it to the hands of the consumer. Gold, as you know, is a precious metal and due to its monetary value, its requires a lot of safeguarding. Depending on how the situation in a city is, gold rates are likely to increase or decrease. In simple terms, the harder it is to transport gold to a city, the higher the costs are likely to be.

    • Bullion associations

    Bullion associations also play a huge role in how gold is priced in a city. Gold rates are fixed twice a day, once when the day begins (called the opening price) and once when the day ends (called the closing price).

    What impact has GST had on gold rate in Hyderabad?

    Ever since the introduction of Goods and Services Tax (GST) in July 2017, gold rate in Hyderabad have seen s shift. While the previous law levied a 12.2% tax on gold (10% import duty, 1% excise duty and 1.2% VAT), the new GST law has made things a lot more easier. To begin with, the GST council has done away with excise duty and VAT and has put GST in its place, which will remain the same for all states in the country. The 3% GST on gold has been well received by traders and investors not just in the city but also in and around the country. Further, GST is expected to herald a new era of consistency to gold trading. Currently, gold is being taxed at 13%, of which 10% stands for import duty while the remaining 3% is the GST.On the retail front, there are a few different components to look at. For instance, there’s the 5% making charge on top of the 10% import duty, and 3% GST. In the retail market, a 5% making charge will be levied on each jewellery purchase.

    What’s the difference between KDM and Hallmark gold in Hyderabad?

    KDM refers to the process through which gold jewellery is made. Gold, as a metal, is rather soft and jewellery was made by soldering the piece with other metals and for this purpose only a metal with a lesser melting point was used. When the process was initially invented, Cadmium was used as the soldering agent. However, this brought with it a number of complications, wherein it decreased the purity of the gold while it was also responsible for various kinds of health hazards. Now, other metals like zinc or copper are used, which has drastically cut down the health risks.

    Hallmark, on the other hand, refers to the certificate given by the Bureau of Indian Standards, a government body which deals with authenticating gold. For example, you buy a piece of jewellery that a store claims is 24 karat or 22 karat. BIS is the entity that certifies that a gold is what a jeweller claims it is.

    Buying gold and gold jewellery in Hyderabad

    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.

    How is gold imported into Hyderabad?

    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 gold rates: How are they decided

    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.

    Taxes on Gold

    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.

    Also Check Gold Price in NearBy Cities of Hyderabad

    Also Check Petrol Price and Diesel Price in Hyderabad

    Read more on Gold

    News About Hyderabad Gold Rate

    • Prices of gold remain weak l for the third consecutive day in India on 29 April 2020

      Due to profit-taking at higher levels, the prices of gold remained weak in India for the third consecutive day. Gold futures prices for the month of June on MCX were flat and are at Rs.46,100 for 10 grams.

      In the previous session, gold futures prices fell by 0.25%. In the international markets, the prices of gold saw a slight increase. Spot gold prices increased by 0.1% and are at $1,708.53 for an ounce. The value of the US dollar fell against most of its rivals due to several economies opening. A policy statement is expected to be made by the US Federal Reserve later today. Several packages have been introduced by Central Banks all over the world to help the economy due to the coronavirus outbreak. In the case of any currency debasement and inflation, gold usually benefits. According to the Head of Commodity Research at Geojit Financial, Hareesh V, gold may see certain profit-taking at higher levels due to several countries easing the coronavirus restrictions. He further added that gold will remain a safe haven due to fears of a global recession. Gold prices in India are inclusive of 3% GST and 12.5% import duty.

      29 April 2020

    • Gold price falls as Coronavirus continues to spread

      The prices of gold had fallen on Monday as investors had liquidated positions in this safe-haven metal in spite of all the measures from global central banks to absorb the effects of the coronavirus.

      The rates of spot gold had fallen by 0.7% to $1,487.83 per ounce. The yellow metal had hiked by 3.1% on Friday. This was driven by monetary and fiscal stimulus from banks all across the world. The US gold futures had risen by 1% to $1,499.50 per ounce. The Asian markets had been set for a pretty tough week as more nations are under lockdown.

      23 March 2020

    • Gold rate dips as traders book profits after WHO declares Corornavirus as a pandemic

      The price of gold has fallen once again as traders booked profits during the previous rally. This was driven by the spread of the Coronavirus. Gold futures had slipped by 0.13% (Rs.58) to Rs.43,297 per 10 grams. On Wednesday, the yellow metal had been trading down by Rs.516 to Rs.44,517 per 10 grams in Delhi. This trend was driven by the appreciation of the Indian Rupee.

      On a global scale, the precious metal saw its price rise as the coronavirus continued to impact the economy, especially after WHO had declared this as a pandemic. Many countries then took extreme measures to avoid public gatherings. The price of spot gold had risen 0.6% to $1,645 per ounce and the U.S. gold futures had been up by 0.1%, standing at $1,644.30. The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust had said that their holdings had dipped 0.91% to 953.26 tonnes.

      Silver futures had added 1.34% (Rs.613) to Rs.45,213 per kg. On Wednesday, the white metal prices had skyrocketed by Rs.146 to Rs.47,234 per kg.

      12 March 2020

    • Prices of gold fall on 19 February 2020 after a huge increase

      The prices of gold reduced in India on 19 February 2020 after a huge jump in the previous session. Gold futures prices for the month of April on MCX reduced by 0.11% and hit Rs.41,375 for 10 grams.

      Gold prices increased by Rs.650 for 10 grams in the previous session. The main reason for the increase in prices was the higher rates in the international markets. According to a note from SMC Global, the demand for gold has been supported due to the economic fallout fears because of the coronavirus. The note further added that the prices of gold could move towards the Rs.41,600 levels and may find support at the Rs.41,200 levels. In the international markets, the prices of spot gold were steady and are at $1,601.77 for an ounce. Even though there was a drop in the number of new coronavirus cases, there have been worries about global growth. This has supported the prices of gold on the downside. Indian equities were cautiously higher on 19 February 2020. Investors will be keeping a close eye on the Federal Reserve policy meeting that is scheduled for 19 February. The Fed did not make any changes to the interest rates in the previous meeting.

      19 February 2020

    • Prices of gold reduce on 20 January 2020 due to volatility

      Gold futures prices reduced on 20 January 2020 after increasing by over 1% over the last three days. The prices of gold increased after Phase 1 of the trade deal between China and the US was signed.

      On MCX, gold futures prices for the month of February reduced by Rs.56 and touched Rs.39,890 for 10 grams. The prices of gold closed at Rs.39,946 for 10 grams on 17 January 2020. According to various experts, the prices of gold are expected to cross the Rs.40,000 levels. According to Pritam Patnaik, since the prices of gold are above Rs.39,700, it indicates positivity. According to the daily chart, the prices of gold have to be above the Rs.39,360 levels. He further added that it is advisable to buy gold in the range between Rs.39,900 and Rs.Rs.39,850 and look for a target around the Rs.40,100 levels. In the international market, the prices of gold reduced by 0.11% and touched $1,558.50 for an ounce. Investors moved towards riskier assets due to strong US economic data. In the global market, the prices of gold rebounded on 17 January 2020. The prices increased for the second consecutive day. The prices of spot gold touched $1,550 for an ounce.

      21 January 2020

    • Gold prices fall for fifth day in a row

      Gold prices dropped for fifth day in a row due to weak global events. February gold futures slumped 0.03% to Rs.37,570 per 10 grams. In five days, gold prices are down about Rs.750 per 10 grams. Gold prices currently stand at about Rs.2,450 per 10 grams from September highs of about ?40,000 per 10 grams.

      The prices of silver also dropped 0.09% to Rs.43,465 per kg.

      On international markets, gold prices declined $1,460.95 per ounce as investors chose to be cautious ahead of the December 15 deadline of U.S tariff on Chines goods.

      11 December 2019

    • Gold futures prices increase on 14 November 2019

      Due to the weakening rupee and the uncertainty of the trade deal between China and the US, gold futures prices increased on 14 November 2019. However, the rise in gold prices was capped because the value of the rupee increased.

      Gold futures for December increased by Rs.32 and hit Rs.38,129 for 10 grams. Gold prices in the international market increased as well and hit $1,466 for an ounce. According to various experts, gold prices are expected to increase further and investors should buy gold in case of any reduction in prices. According to the Director of IndiaNivesh Commodities, Manoj Kumar Jain, the US CPI data did not allow gold prices to increase further in the evening session. He further added that a weakening rupee supports the prices of both gold and silver in the domestic market. He said that they expect gold prices to remain strong on 14 November 2019 and hit around Rs.37,800 for 10 grams. Gold futures prices for December saw a sharp rise in the final session because of the depreciation of the rupee and the sharp rise seen in the global market. The interest rates have been cut three times by the Fed this year to ensure that the US growth can be sustained.

      15 November 2019

    • Gold prices increase ahead of Dhanteras and Diwali due to increased demand

      In India, the price of gold increased due to the auspicious festival of Dhanteras. This day, most people in the country purchase gold. Due to this, gold prices have surged by 20%. On the Multi Commodity Exchange, gold futures showed an increase in prices by Rs.33 to Rs.38,385 per gram.

      In the previous session, the price of gold increased by 0.91% or Rs.350 per 10 grams. As the gold prices increased due to a rise in local demand, the trend has been similar in the global markets as well. Silver prices also increased on the Multi Commodity Exchange by 1.21% to Rs.46,550 per kg.

      Gold prices in the global market increased to hit the two-week high as investors expected another rate cut by the United States Federal Reserve. The price of the precious metal increased to $1,506.35 an ounce. Business investment remained soft as the new orders for the US-made capital goods decreased more than expected in September.

      The trade talks between the United States of America and China worried investors about global growth and the ease in monetary policy has resulted in the rise in gold prices in the year. However, in the country, the government of India had increased the import duty on gold to 12.5% which had resulted in a slow local demand.

      25 October 2019

    • Price of gold dips in India amidst an increase in prices overseas

      Gold prices in the country remained stagnant in the futures on 10 October 2019 even though the precious metal saw a rise in prices globally. The rise in prices of the metal globally was majorly due to the ease of the trade talks between the United States of America and China.

      The price of Spot gold recorded a percentage increase of 0.4% and was priced at $1,511.24 per ounce in the early trade. December futures for the yellow metal was trading at Rs.38,461 per 10 grams recording a percentage decrease of 0.09% or Rs.36.

      On 9 October 2019, both the white metal and the yellow metal closed with positive trends. December futures for gold closed with an increase of Rs.114 at Rs.38,497 per 10 grams..

      However, the trade talks between the two economic superpowers have been keeping the prices of the two precious metals fluctuating and volatile.

      However, the price of gold increased due to Turkey launching airstrikes on Syria which hurt the stock market. Investors resorted to the bullion as a safe-haven asset when gold was said to hit the Rs.38,800 per 10 grams mark.

      10 October 2019

    • Gold prices increase after hitting a one-month low last week

      Prices of gold in India increased on 23 September 2019 after hitting a one-month low last week. Gold futures for October on MCX increased by 0.6% and hit Rs.37,950 for 10 grams. Gold prices hit a one-month low of Rs.37,438 for 10 grams on 20 September 2019.

      The main reason for the increase in prices was a weaker rupee and high global prices. Compared to the previous close of Rs.70.94 for a dollar, the rupee weakened at hit Rs.71.08 for a dollar on September 23. The import cost of gold increases if the rupee weakens. However, gold prices are still down by almost Rs.2,000 after hitting record highs of Rs.39,885 for 10 grams earlier this month. According to HDFC Securities, gold prices in the national capital increased by Rs.130 and hit Rs.38,690 for 10 grams. In the international market, gold prices increased by 0.1% and hit $1,518.33 for an ounce. Gold prices in the global market consolidated because of the tension in the Middle East. On September 18, the US Federal Reserve cut interest rates for the second time this year. However, mixed signals were given regarding any future cuts. Kotak Securities expects the gold prices to remain stable because of an increase in geopolitical and global economic tensions.

      24 September 2019

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