*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 in March 2018||Gold price in Hyderabad in February 2018||Gold price in Hyderabad in January 2018|
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.
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 aand Gold rate in Hyderabad.
Trend of Gold Rate in Hyderabad for March 2018 (rates per gram for 24 karat gold)
March 2018 - Week 1 (1 - 5):
- The yellow metal was priced at Rs.3,043 per gram on 1 March in Hyderabad as demand for gold was more or less steady.
- Gold price in Hyderabad rose to Rs.3,049 per gram on 2 March as a dip in the dollar rate led to an increase in orders from Asia.
- The shock announcement of impending import tariffs on aluminium and steel sparked fears of a trade war, which sent markets crashing across the world.
- Gold capitalised on the market chaos as demand for bullion increased, with the metal priced at Rs.3,068 per gram on 3 & 4 March.
- A minor dip in price was recorded as the week came to an end, with gold trading at Rs.2,918 per gram on 5 March.
March 2018 - Week 2 (5-11):
- The second week of March began in Hyderabad with gold trading at Rs.3,064 per gram.
- Gold rates dropped to Rs.3,054 per gram the next day as the local market was slow to react to the strong demand scenario witnessed globally.
- On the 7th, gold rates in Hyderabad surged up to Rs.3,074 per gram due to an imminent trade war between the US and major European countries.
- The 8th saw gold rates drop to Rs.3,061 per gram as investor remained cautious while waiting for wage data to arrive.
- During the 10th, prices went back up to Rs.3,067 per gram as the US dollar fell due to poor wage gains. Gold continued at the same rate on the 11th as well, gold rates continued to hold at Rs.3,067 per gram amid stable demand.
March 2018 - Week 3 (12 - 18):
- In Hyderabad, the week began with the yellow metal priced relatively lower at Rs.3,057 per gram on the 12th after the US dollar strengthened with the US payrolls and jobs data reported an increase in the number of jobs included in the nation’s economy.
- Prices dipped to Rs.3,047 per gram the next day after the greenback remained steady with markets eyeing on the US consumer price data for ideas on the pace of Fed rate hikes and other inflation concerns.
- However, the dollar lost its sheen after the US Secretary of State was abruptly fired by the President. This led to gold price in Hyderabad rising to Rs.3,062 per gram on the 14th.
- With investors and traders remaining cautious ahead of the US Federal Reserve monetary policy meeting next week, demand for the metal declined. This led to the metal being priced at Rs.3,056 per gram on the 15th.
- The 16th saw gold rates declining further to Rs.3,037 per gram tracking a strong dollar index and firmer equities in the international market.
- However, an increase in domestic demand from local jewellers, retailers and industries amid a firm trend overseas led to prices rising marginally to Rs.3,040 per gram on the 18th.
- Steady local demand coupled with positive global cues resulted in the week concluding with gold rates in Hyderabad holding at Rs.3,040 per gram during the closing hours.
Trend of Gold Rate in Hyderabad for February 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold rate on 1st February 2018||Rs.3,077 per gram|
|Gold rate on 28th February 2018||Rs.3,129 per gram|
|Highest Rate in February||Rs.3,161 per gram on 17 and 18 February|
|Lowest Rate in February||Rs.3,035 per gram on 9 February|
|Overall Monthly Performance||Incline|
February 2018 - Week 1 (1st - 4th)
- Gold trade opened in Hyderabad with the yellow metal priced relatively lower at Rs.3,040 per gram on the 1st after the US dollar began recovering from previous month’s losses following the two-day monetary policy meeting by the US Federal Reserve.
- On the 2nd, gold rate in Hyderabad surged to Rs.3,071 per gram due to a rise in domestic demand amid a positive trend overseas.
- The release of the US employment data proved to have a negative impact on the commodity markets during the week. This led to gold price in Hyderabad declining to Rs.3,050 per gram on the 3rd.
- When trading concluded for the week, the bullion prices were recorded holding steady at Rs.3,050 per gram on the 4th with steady local demand for the metal.
February 2018 - Week 2 (5th -11th)
- In the Nizam city of Hyderabad, gold started trading at Rs.3,035 per gram on the 5th of February.
- This rose to Rs.3,071 per gram - by Rs.36 - as a massive equity sell-off worldwide spurred safe-haven demand.
- However, the sharp demand from previous day dropped and gold price in Hyderabad went down to Rs.3,031 per gram. This was because the US dollar bounced back against a basket of other currencies.
- The 8th saw gold rate in Hyderabad fall again - this time to Rs.3,003 per gram - as demand took a hit as the dollar continued on its resurgent path.
- With domestic demand rising, particularly from jewellers, gold rates went up to Rs.3,018 per gram on the 9th.
- Demand increased on the 10th and the metal traded at Rs.3,023 per gram on the 10th of February. This continued on till the closing hours of the week as demand remained steady.
February 2018 - Week 3 (12th - 18th)
- Trading opened in Hyderabad with the bullion priced at Rs.3,025 per gram on the 12th with markets awaiting release of the US inflation data later during the week.
- The 13th saw gold price in Hyderabad rising to Rs.3,030 per gram with the US greenback losing ground ahead of the inflation data and traders expecting clues on the interest rate hike from the data.
- On the 14th, the bullion trade witnessed rates hitting one-week highs at Rs.3,103 per gram with the US dollar losing against other apex currencies before the inflation data release.
- However, the stronger than expected inflation data resulted in the US dollar recovering from the previous day’s losses. The precious metal was recorded trading at Rs.3,071 per gram on the 15th.
- With investors and stockists being attracted to the bullion to hedge against the inflation, demand for the metal surged significantly. This led to gold rate in Hyderabad rising to Rs.3,074 per gram on the 16th before surging further to Rs.3,096 per gram the next day amid strong global cues.
- The week concluded with the yellow metal prices holding steady at Rs.3,096 per gram on the 17th owing to steady demand amid the positive overseas trends.
February 2018 - Week 4 (19th - 25th)
- When the fourth week of February began on the 19th, gold was priced at Rs.3,083 per gram
- However, gold rates were primed for some declines this week as the US dollar pushed back against other apex currencies after week of underperformance.
- On the 20th, gold rate in Hyderabad fell to Rs.3,068 per gram as the dollar surged and posted a significant growth.
- As the dollar continued to gain, gold price in Hyderabad dropped to Rs.3,057 per gram on the 21st of February.
- The yellow metal’s rates fell for the third consecutive day and a Rs.4 decline was recorded on the 22nd, bringing gold prices effectively down to Rs.3,054 per gram.
- However, local demand was boosted by a number of factors on the 23rd and the metal’s rates surged to Rs.3,060 per gram on this day.
- As domestic demand remained strong amid a well-performing dollar, gold rates in Hyderabad surged to Rs.3,067 per gram on the 24th of February.
February 2018 - Week 5 (26th - 28th)
- The final week began in Delhi with the bullion priced at Rs.3,124 per gram on the 26th following a steady demand from local jeweller, retailers and industries.
- On the 27th, gold rate in Delhi rose to Rs.3,134 per gram with investors awaiting Fed Chairman Jerome Powell’s first congressional speech to the nation.
- The month came to an end with gold prices plunging to Rs.3,129 per gram on the 28th after the US dollar rose against a basket of other emerging currencies in the global trade.
- Gold price in Delhi rose by 1.68% owing to the strong trends overseas that pushed demand higher for the metal during the month.
Trend of Gold Rate in Hyderabad for January 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st January 2018||Rs.3,005 per gram|
|Gold Rate on 31st January 2018||Rs.3,045 per gram|
|Highest Rate in January||Rs.3,086 per gram on 16 January|
|Lowest Rate in January||Rs.3,000 per gram on 4 January|
|Overall Monthly Performance||Incline|
January 2018 - Week 1 (1st - 7th)
- Gold opened at a relatively weak note in Hyderabad for the new year. On the 1st of January, gold was priced at Rs.3,005 per gram.
- As the international market showed some positive changes, gold rate in Hyderabad went up slightly to Rs.3,008 per gram on the 2nd and then to Rs.3,014 per gram the next day.
- However, a surge in dollar rates and the subsequent announcement of the latest US payrolls’ data affected gold trading globally and in India. Prices dropped to Rs.3,000 per gram on the 4th as a result of this.
- Gold price in Hyderabad went back up to Rs.3,015 per gram on the 5th. Reports suggested that “today’s gold rate” saw an increased as the job data was on the weaker side.
- This led to gold rates rising to Rs.3,021 per gram on the 6th, and continue at this rate till the closing hours of the week.
January 2018 - Week 2 (8th - 14th)
- The bullion was priced at Rs.3,015 per gram on the 8th when the week began.
- Though gold price in Hyderabad surged to Rs.3,021 per gram on the 9th due to an increase in domestic demand from retailers, local jewellers, and industries, gold rates plunged to Rs.3,009 per gram on the 10th with the equity markets recovering from the initial shock.
- However, with the US dollar losing against other apex currencies the yellow metal prices rebounded to Rs.3,030 per gram on the 11th.
- Gold rate in Hyderabad surged further to Rs.3,045 per gram on the 12th after the equities performed poorly amid the weakened US dollar.
- The 13th saw the yellow metal prices hitting a seven-week high at Rs.3,068 per gram following an increase in overseas demand amid the positive trends internationally.
- Steady demand coupled with strong global cues resulted in gold being priced at Rs.3,068 per gram when the week concluded.
January 2018 - Week 3 (15th - 21st)
- In Hyderabad, gold opened on a relatively subdued note with the metal priced at Rs.3,071 per gram.
- A rise in global demand helped improve domestic sentiments. This pushed gold prices in Hyderabad up to Rs.3,086 per gram on the 16th of January.
- The US dollar index improved against a basket of other currencies and as a result of this, gold rate in Hyderabad dropped to Rs.3,082 per gram on the 17th.
- With the US treasury yields offering some increased returns, gold rates dropped to Rs.3,061 per gram on the 18th of the month.
- Demand for gold surged amid rising concerns over a possible US government shutdown. Gold markets around the world, as well as India, climbed to new levels as a consequence.
- On the 19th, the metal traded at Rs.3,064 per gram, which then rose to Rs.3,084 per gram the next day after the US government shut shop.
- When the week ended, gold rates in Hyderabad continued at Rs.3,084 per gram, thanks to a steady demand.
January 2018 - Week 4 (22nd - 28th)
- As the US dollar remained considerably weak, gold witnessed considerable increase over the course of the week.
- When trading for the week began on the 22nd, gold was priced at Rs.3,022 per gram.
- The 23rd saw gold open at Rs.3,030 per gram and close at Rs.3,026 per gram as demand remained mostly on the flatter side.
- Significant increases in gold price in Hyderabad were witnessed from the 24th onwards, as the US dollar hit new lows while gold hit 16-month high figures.
- On the 25th, the yellow metal opened at Rs.3,072 per gram as demand from jewellers in and around the city surged.
- But, demand slowed down slightly and gold rate in Hyderabad seemed to consolidate towards the end of the week.
- At the time of the week’s closing, gold was priced at Rs.3,068 per gram.
January 2018 - Week 5 (29th - 31st)
- Gold was priced at Rs.3,043 per gram on the 29th when the week began.
- With the US dollar recovering from it previous streak of losses and equities gaining in the market, gold price in Hyderabad plunged to Rs.3,030 per gram the following day.
- On the last day, the bullion trade witnessed gold price in Hyderabad rebounding to Rs.3,045 per gram with investors and markets awaiting the outcome of the US Federal Reserve’s two-day monetary policy meeting.
- Hyderabad recorded an incline of 1.33% in bullion trade amid the positive trends overseas during the course of the month.
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st December 2017||Rs.2,982 per gram|
|Gold Rate on 31st December 2017||Rs.3,015 per gram|
|Highest Rate in December||Rs.3,015 per gram on 30 and 31 December|
|Lowest Rate in December||Rs.2,906 per gram on 13 December|
|Overall Monthly Performance||Incline|
December 2017 - Week 1 (1st - 10th)
- When trading commenced in Hyderabad, the bullion was priced at Rs.2,982 per gram on the 1st owing to a strong dollar index and firmer equity markets.
- The 2nd, however, witnessed gold rate in Hyderabad rising to 3,002 per gram as the dollar weakened after the US tax reform plans hit a roadblock due to conflicting opinions between the House and the Republicans.
- But the US Senate’s decision to set aside the differences and clear the tax bill led to gold regaining lost ground. This led to gold prices plunging to Rs.2,977 per gram and Rs.2,968 per gram on the 4th and the 5th.
- GOld price in Hyderabad plunged further to Rs.2,957 per gram on the 6th as markets remained cautious ahead of the monetary policy meetings to be held during the month.
- Positive sentiments from people on the optimistic tax reform plans to overhaul the US tax system led to the dollar rising further. This led to gold prices plunging to Rs.2,950 per gram on the 7th.
- The 8th registered the lowest level in nearly four weeks with the precious metal being priced at Rs.2,920 per gram amid the poor overseas trend coupled with strong dollar index.
- Demand picked up slightly towards the end of the week due to an increased buying from local jewellers and retailers with the arrival of the wedding season. This led to the bullion prices rising to Rs.2,927 per gram on the 9th.
- The week concluding with gold trading firm at Rs.2,927 per gram on the 10th despite the strong US dollar and the uneven global cues.
December 2017 - Week 2 (11th - 17th)
- Gold trading in Hyderabad began at a relatively sombre note this week, with the metal trading at Rs.2,911 per gram.
- Prices fell over the next two days for the metal to trade at Rs.2,908 per gram and then at Rs.2,906 per gram as markets restrained themselves from heavy purchases amid the upcoming Fed rate hike.
- Once the rate hike was introduced, the US dollar became weaker. This pushed demand for the yellow metal up and it traded at Rs.2,929 per gram on the 14th of the month.
- The 15th saw gold price in Hyderabad go down to Rs.2,917 per gram as domestic investors couldn’t cope with demand seen during the previous day’s session.
- On the final day of the week, gold rate in Hyderabad surged back to Rs.2,927 per gram as local investors were helped by strong demand overseas, which in turn had a spill over effect in India.
December 2017 - Week 3 (18th - 24th)
- The week began in Hyderabad with the precious metal trading lower at Rs.2,922 per gram on the 18th.
- Despite the steady dollar index and firm equity markets, gold rate in Hyderabad surged to Rs.2,933 per gram on the 19th.
- The next day saw gold price in Hyderabad slipping to Rs.2,931 per gram before rebounding to Rs.2,937 per gram on the 21st amid a positive trend overseas that led to an increased global demand for the metal.
- However, prices plummeted again to Rs.2,931 per gram on the 22nd with the dollar gaining against a basket of emerging currencies.
- The 23rd recorded gold rates trading as high as Rs.2,956 per gram after investors mulled over the negative impact of the tax overhaul on the US economic growth.
- Strong global trends coupled with steady demand from industries, jewellers and retailers led to gold holding steady at Rs.2,956 per gram for the rest of the week.
December 2017 - Week 4 (25th - 31st)
- When the week began in Hyderabad, gold was priced at Rs.2,945 per gram. This then rose to Rs.2,957 per gram as an increased demand in the international market pushed gold rates up locally.
- The 27th again saw gold prices surge to Rs.2,964 per gram as a weak US dollar prompted an increase in gold purchases.
- On the 28th, the yellow metal was priced at Rs.2,985 per gram - while globally demand had hit near one-month high figures.
- There was a slight increase in prices on the 29th and the metal sold at Rs.2,988 per gram for the day.
- The 30th saw gold prices surge by Rs.27 due to a number of mitigating factors including a poor US dollar, the ongoing US-North Korea conflict, and the rising inflation in the US.
- Gold traded at Rs.3,015 per gram for much of the 30th and continued at the same rate on the 31st of the month as well.
|Parameters||Gold price (24 karat)|
|Gold rate on 1st November 2017||Rs.2,974 per gram|
|November 31 Rate||Rs.2,996 per gram|
|Highest Rate in November 2017||Rs.3,030 per gram 18 to 20 November|
|Lowest Rate in November 2017||Rs.2,974 per gram on 1 and 6 November|
|Overall Monthly Performance||Incline|
November 2017 - Week 1 (1st - 5th)
- In Hyderabad, gold started off on a somber note before improving briefly as the week progressed.
- On the 1st of November, gold in Hyderabad was priced at Rs.2,974 per gram.
- A considerable surge in local demand saw gold rate in Hyderabad rise to Rs.2,987 per gram on the 2nd of the month.
- However, as the weak overseas trend weighed in on the local scenario, gold rates dropped to Rs.2,983 per gram on the 3rd of November.
- Over the final two days, gold price in Hyderabad were recorded at Rs.2,977 per gram.
November 2017 - Week 2 (6th - 12th)
- Gold trade in Hyderabad picked up as the week progressed owing to a strong overseas trend coupled with increased global demand.
- When the week began, the precious metal was trading at Rs.2,974 per gram on the 6th.
- Gold rate in Hyderabad surged to Rs.2,995 per gram on the 7th with the Middle-East crisis intensifying, subsequently, pushing demand higher for safe-haven assets.
- The next couple of days witnessed gold rates rise significantly with the dollar declining amid speculations on possible delays in President Trump’s tax reform plan. This led to prices rising to Rs.3,002 per gram and Rs.3,008 per gram on the 8th and 9th respectively.
- Gold price in Hyderabad surged further with the bullion trade hitting a near three-week high on the 10th amid a weaker dollar. The yellow metal was priced at Rs.3,015 per gram on the 10th.
- Rates remained unchanged at Rs.3,015 per gram for the remainder of the week, owing to a steady and sustained demand from investors and jewellers.
November 2017 - Week 3 (13th - 19th)
- In Hyderabad, when trading opened for this week, gold was priced at Rs.3,007 per gram.
- Gold price in Hyderabad went up to Rs.3,012 per gram on the next day - the 14th - as demand from local buyers surged as US dollar wavered.
- Gold rate in Hyderabad went up again, this time to Rs.3,018 per gram on the 15th and continued at the same rate on the 16th, while trading elsewhere seemed to decline.
- The 17th bore witness to one of the biggest fall in prices as they went down to Rs.2,999 per gram - a Rs.19 per gram decline in a day.
- This fall was due to strong US treasury yields, which subsequently strengthened the dollar’s standing against other currencies.
- However, the decline was short lived as gold rates rocketed to Rs.3,030 per gram on the 18th as the US markets reacted negatively to Donald Trump’s latest tax regime.
- This rate continued on till the closing hours of the week, thanks to consistent buying from commodity buyers in the city.
November 2017 - Week 4 (20th - 26th)
- In Telangana’s capital, gold prices were remained true to changes witnessed in other cities in the country.
- When the week began on the 20th, gold was priced at Rs.3,030 per gram.
- As investors slowly refrained from making further investments, gold rate in Hyderabad fell to Rs.3,004 per gram on the 21st.
- Caution was the trend of the day on the 22nd as well, which pushed priced down to Rs.2,996 per gram.
- A surge in demand brought about by positive global cues saw gold rates surging up to Rs.3,015 per gram on 23rd November.
- Gold price in Hyderabad remained unchanged on the 24th but dropped to Rs.3,004 per gram as demand from Asian markets took a hit.
- Prices remained at Rs.3,004 per gram on the final day of this week as investors backed off of investments due to high acquiring costs.
November 2017 - Week 5 (27th - 30th)
- In Hyderabad, gold traded at Rs.3,013 per gram when the week began on the 27th.
- A weak global trend caught up with local trading, which pushed gold rate in Hyderabad down to Rs.3,009 per gram on the 28th of November.
- Despite the weak demand internationally, a slight surge in domestic circles saw gold price in Hyderabad go up to Rs.3,011 per gram the next day.
- The final day of the week, however, saw gold rates drop significantly by as much as Rs.15 per gram and the metal traded at RS.2,996 per gram.
- This rapid fall was because of a burgeoning dollar, which was caused by strong stock markets.
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st October 2017||Rs.3,040 per gram|
|Gold Rate on 31st October 2017||Rs.2,996 per gram|
|Highest Rate in October 2017||Rs.3,059 per gram on 14 and 15 October|
|Lowest Rate in October 2017||Rs.2,996 per gram on 31 October|
|Overall Monthly Performance||Decline|
October 2017 - Week 1 (1st -7th)
- The Nizam’s city saw a trend prevalent across major Indian cities, with gold prices beginning the week high before a decrease in demand led to rates falling.
- Gold rate in Hyderabad was at Rs.3,040 per gram on 1 October but dropped to Rs.3,034 per gram on 2 October due to demand fluctuations.
- The recovery of the U.S. dollar led to a reduction in demand for gold from overseas industry and buyers, leading to gold price in Hyderabad falling to Rs.3,010 per gram on 3 October.
- A period of relative calm led to markets recovering and a lower reliance on safe-haven assets like gold, which kept prices at Rs.3,012 per gram on 4 October.
- The drop in price as a result of declining demand continued, as gold fell to Rs.3,000 per gram on 5 October after cautious trading in the metal ahead of the release of U.S. jobs data.
- Gold price in Hyderabad fell to Rs.2,997 per gram on 6 October but prices recovered as the week ended, trading at Rs.3,017 per gram on 7 October after a late rally by the metal.
October 2017 - Week 2 (8th -14th)
- Gold price in Hyderabad started off at Rs.3,017 per gram for this week but surged up to Rs.3,027 per gram on the 9th amidst concerns over the unabating US - North Korea conflict.
- The geopolitical conflict paired with a good demand for gold led to prices going up to Rs.3,033 per gram on the 10th.
- Gold rate in Hyderabad remained stable at Rs.3,033 per gram and went up slightly to reach Rs.3,035 per gram on the 13th.
- Diwali demand took hold of the local market and - combined with the volatile US market - gold rates surged to Rs.3,059 per gram on the 14th of the month.
October 2017 - Week 3 (15th - 21st)
- Bullion trading in Hyderabad was affected by domestic factors and the positive performance of the US dollar.
- On the 15th of October, gold was seen trading at Rs.3,059 per gram. Gold rate in Hyderabad dropped to Rs.3,042 per gram - keeping in touch with falls witnessed in other major cities.
- Price of gold fell further to Rs.3,034 per gram as a strong dollar led to investors backing out of purchases.
- Gold rates in Hyderabad declined on the 18th and 19th as well to trade at Rs.3,023 per gram and Rs.3,017 per gram respectively as demand saw little signs of picking up.
- However, a spurt in demand brought about by Diwali saw gold trading at Rs.3,027 per gram on the 10th of October.
- Demand subsided after Diwali day and the metal traded at Rs.3,017 per gram on the final day of this week.
October 2017 - Week 4 (22nd -28th)
- When the week began on the 22nd, the yellow metal was recorded trading at Rs.3,117 per gram with continued demand from the previous week.
- Gold rate in Hyderabad plunged to Rs.3,009 per gram on the 23rd on account of subdued demand from local jewellers, retailers and industries coupled with strengthening of the dollar against other apex currencies.
- However, dollar rates plummeted the next day as investors refrained from making purchases amid speculations of an early announcement on a new Federal Reserve chairman. This resulted in gold prices surging to Rs.3,015 per gram.
- Gold price in Hyderabad dropped to Rs.3,005 per gram on the 25th, as global demand for the precious metal declined as the US dollar edged higher with firm equity markets.
- Local demand for gold declined in spite of positive global trends. This led to prices dropping to Rs.3,001 per gram on the 26th.
- The US dollar gained against the euro following the European Central Bank decision to extend its bond-buying scheme. This resulted in gold rates hitting their lowest in nearly three weeks at Rs.2,997 per gram on the 27th.
- Gold prices recovered on the 28th with increased demand from domestic investors and retail jewellers, resulting in the rates rising to Rs.3,006 per gram when the week ended.
October 2017 - Week 5 (29th- 31st)
- Like most other Indian cities, Telangana’s capital also saw gold rates fall this week due to a global slowdown in gold sales.
- On the 29th of October, gold traded at Rs.3,006 per gram.
- But, as international demand dried up amidst the latest Federal Reserve meeting, gold rates in Hyderabad fell to Rs.2,997 per gram on the 30th.
- When the week and month drew to a close, gold rates in Hyderabad went down slightly to Rs.2,996 per gram as local demand dropped.
|Parameters||Gold price (24 karat)|
|September 1 Rate||Rs.2,997 per gram|
|September 30 Rate||Rs.3,040 per gram|
|Highest Rate in September||Rs.3,100 per gram on 8 September|
|Lowest Rate in September||Rs.2,997 per gram on 1 September|
|Overall Monthly Performance||Incline|
September 2017 - Week 1 (1st to 10th)
- In Hyderabad, gold trading was on the conservative side with demand from investors and the jewellery industry remained low.
- On the 1st of September, gold price in Hyderabad were recorded at Rs.2,995 per gram.
- There was a small spike in demand which led to the yellow metal trading at Rs.2,997 per gram on the 2nd and the 3rd of the month.
- Trade exchanges were in for a busy day on the 4th as prices surged massively to Rs.3,073 per gram - a Rs.76 increase from the previous day’s rates.
- The sudden and rapid hike in prices can be attributed to North Korea’s latest nuclear weapon test, which is being dubbed as the country’s most powerful attempt.
- With safe-haven investment receiving more thrust, gold prices surged to Rs.3,084 per gram on the 5th and then to Rs.3,088 per gram on the 6th.
- As demand seemed to simmer down, gold price in Hyderabad went down to Rs.3,071 per gram on the 7th of September.
- However, when North Korea confirmed reports about its nuclear test, markets were in for another busy day.
- Prices went up to Rs.3,100 per gram on the 8th as a direct result of Kim Jong Un government’s acknowledgement of its nuclear test.
- Gold rate in Hyderabad fell slightly to Rs.3,095 per gram and traded at the same rate on the 10th of the month as the US dollar was recovering lost ground.
September 2017 - Week 2 (11th to 17th)
- Trading in gold was muted in Hyderabad, as gold opened the week at Rs.3,074 per gram on 11 September.
- An increase in the dollar rate boosted the markets, which had been volatile following the testing of a nuclear missile by North Korea the previous week.
- Gold price in Hyderabad dropped to Rs.3,051 per gram on 12 September as local demand was poor due to reduced demand from industry.
- As analysts awaited news of the Federal Reserve’s meeting in Jackson Hole and the implications on the markets, demand for the metal was on the decline.
- Gold rate in Hyderabad rose briefly as gold traded at Rs.3,064 per gram on 13 September but prices fell to Rs.3,050 per gram the next day.
- While demand was consistent, a drop in gold futures as well as declining demand from local industry resulted in prices remaining unchanged.
- Gold ended the week trading at Rs.3,050 per gram on 17 September due to a combination of geopolitical factors and poor local demand.
September 2017 - Week 3 (18th-24th)
- Gold prices in Hyderabad fluctuated for the first four days this week before stabilising as the end of the week approached.
- On the 18th of September, the yellow metal was priced at Rs.3,041 per gram, which dropped to Rs.3,023 per gram on the 19th as demand for the metal took a hit.
- Festive season pushed gold price in Hyderabad up to Rs.3,045 per gram on the 20th, as demand from retail outlets in particular surged.
- Rise in US dollar value pushed gold rate in Hyderabad down to Rs.3,018 per gram on the 21st, before going back up to Rs.3,042 per gram as pre-Dusshera sales gripped the market.
- As demand remained steady, gold prices remained unchanged on the 23rd and the 24th of this month.
September 2017 - Week 4 (25th-30th)
- This week started on a relatively low note with the metal being priced at Rs.3,020 per gram – a Rs.22 decrease from the previous day.
- Demand, however, picked up on the 26th to push the metal’s rates up to Rs.3,081 per gram, thanks to the imminent arrival of the festive season.
- But, as the US dollar strengthened, gold trading took a back seat. This led to the yellow metal being priced at Rs.3,055 per gram on the 27th of September.
- Gold rate in Hyderabad went down for the next two consecutive days as a strong US dollar performance and weak local trading cues.
- Gold price in Hyderabad were recorded at Rs.3,036 per gram on the 28th and Rs.3,028 per gram on the 29th respectively.
- A slightly increased buying trend pushed gold prices in Hyderabad up to Rs.3,040 per gram on the last day of the month.
|Parameters||Gold price (24 karat)|
|August 1 Rate||Rs.2,931 per gram|
|August 31 Rate||Rs.2,965 per gram|
|Highest Rate in August||Rs.2,980 per gram on 29 August|
|Lowest Rate in August||Rs.2,900 per gram from 5-8 August|
|Overall Monthly Performance||Incline|
August ‘17 - Week 1 (1st to 6th)
- Fluctuating gold prices were recorded in the Nizam’s city as well, trading at Rs.2,931 per gram on 1 August before dropping to Rs.2,925 per gram on 2 August due to a dip in local demand.
- Prices were low across the globe as investors awaited the results of the U.S. Fed Reserve meeting, trading at Rs.2,901 per gram on 3 August.
- Continued fluctuations in the price of gold in Hyderabad were observe due to conflicting demand from the domestic gold market, resulting in gold trading at Rs.2,913 per gram on 4 August before dropping to Rs.2,900 per gram on 5 August.
- Gold rate in Hyderabad remained constant as the week ended, with gold trading at Rs.2,900 per gram on 6 August.
August ‘17 – Week 2 (7th to 13th)
- Gold price trends in Hyderabad the last week remained the same as most other Indian cities, wherein rates surged up significantly towards the latter half of the week.
- On the 7th of August, gold in Hyderabad was priced at Rs.2,900 per gram - which then went up to Rs.2,906 per gram while avoiding a price fall.
- Rates went up marginally to Rs.2,908 per gram on the 9th before positive trading cues from the global market led to the precious metal trading at Rs.2,944 per gram on the 10th.
- Gold price in Hyderabad went up again on the 11th to trade at Rs.2,975 per gram as news about a stand-off between North Korea and the US sent the markets into a frenzy.
- The sudden spike in rates came to a halt as the shock factor seemed to fade and gold prices went up marginally by Rs.2,977 per gram on the 12th.
- When the week came to an end on the 13th, the yellow metal was still trading at Rs.2,977 per gram, thanks to a sustained demand from local jewellers.
August ‘17 - Week 3 (14th to 20th)
- There was a decline in the price of gold in Hyderabad in the third week of August due to market conditions as well as a general decline in demand fro the metal.
- Gold was priced at Rs.2,968 per gram on 14 & 15 August as demand was more or less constant due to the fluctuating dollar rate.
- Gold price in Hyderabad fell to Rs.2,9511 per gram on 16 August as global markets recovered following positive data from the U.S. jobs market as well as an upbeat mood before the U.S. Federal Reserve meeting.
- The yellow metal rose on positive market cues as the dollar rate once again fell due to continued tensions with North Korea, trading at Rs.2,967 per gram on 17 August.
- Gold rate in Hyderabad continued to rise, trading at Rs.2,972 per gram on 18 August as local demand also rose in anticipation of the upcoming festive season.
- Prices dipped as the week ended, trading at Rs.2,951 per gram on 19 & 20 August due to a decrease in overall demand, especially from industry.
August 2017 – Week 4 (21st - 27th)
- When the week began in Hyderabad, gold was trading at Rs.2,944 per gram, which then increased to Rs.2,951 per gram on the 22nd due to a weak US dollar.
- Rates went up again on the 23rd, due to consistent demand, for the metal to trade at Rs.2,957 per gram.
- Local investors seemed to get their fair share of safe haven investing, which led gold price in Hyderabad to reach Rs.2,965 per gram on the 24th.
- After a steady incline for four straight days, gold prices stabilised to trade at Rs.2,967 per gram on the 25th of August.
- For the next two days, gold prices remained unchanged at Rs.2,967 per gram, thanks to sustained demand.
August 2017 – Week 5 (28th - 31st)
- Demand for gold in Hyderabad fluctuated due to demand vagaries and the geopolitical crises in the Korean peninsula.
- Gold was priced at Rs.2,942 per gram on 28 August as prices dropped due to a decline in local demand.
- The threat of an attack by North Korea and the flooding in Texas due to Hurricane Harvey led to markets crashing and increased demand for gold, which traded at Rs.2,980 per gram on 29 August.
- The rising price of gold put off local investors, resulting in a reduction in orders and a decline in the overall price of gold as it fell to Rs.2,973 per gram on 30 August.
- The last day of the month saw a further decline in price as industrial demand was low in spite of favourable market conditions and positive cues, with gold trading at Rs.2,965 per gram on 31 August.
|Parameters||Gold price (24 karat)|
|July 1 Rate||Rs.2,950 per gram|
|July 31 Rate||Rs.2,920 per gram|
|Highest Rate in June||Rs.2,950 per gram|
|Lowest Rate in June||Rs.2,800 on 14 July|
|Overall Monthly Performance||Decline|
July 2017 - Week 1 (1st to 9th)
- Gold traded at Rs.2,950 per gram on 1 July in Hyderabad and continued to trade at this rate until 2 July.
- The rate of gold reduced marginally to trade at Rs.2,940 per gram on 3 July but was otherwise relatively steady ahead of the US Independence day. The value of the U.S. dollar was quite low however, as there were signs of monetary tightening by central banks.
- This precious metal was priced at Rs.2,914 per gram on 4 July before plunging to a weekly low of Rs.2,908 per gram on 5 July.
- Due to a rise in demand, the rate of gold recovered marginally to be priced at Rs.2,910 per gram but fell the next day to trade at Rs.2,892 per gram.
- On the last two days of the first week of July, gold was priced at Rs.2,869 per gram due to low but steady demand.
July 2017 - Week 2 (10th to 16th)
- In Hyderabad, gold prices took a hit despite starting strongly courtesy of a fall in local demand.
- On the 10th of July, gold was priced at Rs.2,867 per gram and went down by Rs.44 to go down to Rs.2,824 per gram on the 11th.
- Although there was a spike in international bullion demand, the same wasn’t reflected in the nizam city.
- Prices went down for the third consecutive day - on the 12th - as prices went down to Rs.2,815 per gram.
- Bullion rates seemed to consolidate on the 13th as there was only a Rs.3 decrease to be witnessed.
- The 14th brought about a considerable decrease as gold rate in Hyderabad went down to Rs.2,800 per gram as demand didn’t pick up.
- Buoyed by a sharp decline in US dollar rates and an increase in local demand, gold price in Hyderabad went up to Rs.2,818 per gram on the 15th.
- When the week came to an end on the 16th, gold was still trading at Rs.2,818 per gram, thanks to a consolidated bullion trading session.
July 2017 - Week 3 (17th to 23rd)
- The surge in the price of gold was seen in the Nizam’s city as well, with gold soaring as demand increased exponentially over the course of the week.
- Gold was priced at Rs.2,822 per gram on 17 July with the price rising to Rs.2,833 per gram on 18 July amidst increased interest from retail and industry alike.
- The poor market performance as well as the weak U.S. dollar resulted in gold being cheaper to non-greenback countries, which led to gold demand rising to Rs.2,850 per gram on 19 July.
- Bullion demand continued to dominate as stock markets were shaky, leading to a further increase in the price of gold in Hyderabad, which traded at Rs.2,869 per gram on 20 July.
- Prices peaked towards the end of the week as the U.S. dollar slid further due to internal crises, boosting the gold rate to Rs.2,892 per gram on 21 July.
- The week ended with gold price in Hyderabad at Rs,2,917 per gram on 23 July, recording an increase of Rs.95 over the course of the week.
July 2017 - Week 4 (24th to 31st):
- Gold prices in Hyderabad for July week 4 started with the metal trading at Rs.2,916 per gram, which then went up to Rs.2,917 per gram on the 25th.
- Prices bottomed out to Rs.2,899 per gram on the 26th as local jewellers refrained from investing in the metal.
- On the 27th, prices went up to Rs.2,920 per gram as dollar value fell and domestic investors leveraged this to purchase more gold.
- The 28th saw prices fall briefly to Rs.2,916 before the North Korean conflict brought US markets down and people invested more in the yellow metal.
- Over the next two days, gold prices remained at Rs.2,926 per gram before going down to Rs.2,920 per gram on the 31st of July.
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.
The Current Gold Price Trend in Hyderabad: What it looks like?
Gold prices in Hyderabad has been witness to considerable fluctuations over the past few years, with the demonetisation drive of November 2016 contributing to some of the biggest falls in prices. Currently, the market is seeing steady rise in prices, thanks to largely improving demand from investors in the city. Changes with regards to long term investments, on the other hand, have been stable putting an overall positive outlook on the market.
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.
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.
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.
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.
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).
Things to know before investing in gold in kolkata
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.
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|
Read more on Gold
- Which Day Is Good To Buy Gold in Year 2018
- Akshaya Tritiya – An Auspicious Day to Buy Gold
- What Do The Markings On Gold Mean?
- Everything You Need To Know About Sovereign Gold Bond Scheme
- Know About Gold Futures
- How Gold Price Is Valuated In India
- Where To Buy Gold In India