Gold Rate In Hyderabad Today

  • Today's Gold Rate in Hyderabad ( 24 Jan 2020 )
    ₹ 3,819
    Today's Gold Rate (22K) per gram
    Compare Gold Rate In Hyderabad (Today & Yesterday)
    Today
    (24 Jan 2020)
    Yesterday
    (23 Jan 2020)
    Rate Change
    Standard Gold (22 K) ( 1 gram ) ₹ 3,819 ₹ 3,815 ₹ 4 ↑
    Standard Gold (22 K) ( 8 grams ) ₹ 30,552 ₹ 30,520 ₹ 32 ↑
    Pure Gold (24 K) ( 1 gram ) ₹ 4,010 ₹ 4,006 ₹ 4 ↑
    Pure Gold (24 K) ( 8 grams ) ₹ 32,080 ₹ 32,048 ₹ 32 ↑
    Daily Gold Rates
    Date Standard Gold (22 K) Pure Gold (24 K)
    1 gram 8 grams 1 gram 8 grams
    24 Jan 2020 ₹ 3,819 ₹ 30,552 ₹ 4,010 ₹ 32,080
    23 Jan 2020 ₹ 3,815 ₹ 30,520 ₹ 4,006 ₹ 32,048
    22 Jan 2020 ₹ 3,807 ₹ 30,456 ₹ 3,997 ₹ 31,976
    21 Jan 2020 ₹ 3,836 ₹ 30,688 ₹ 4,028 ₹ 32,224
    20 Jan 2020 ₹ 3,820 ₹ 30,560 ₹ 4,011 ₹ 32,088
    19 Jan 2020 ₹ 3,828 ₹ 30,624 ₹ 4,019 ₹ 32,152
    18 Jan 2020 ₹ 3,828 ₹ 30,624 ₹ 4,019 ₹ 32,152
    17 Jan 2020 ₹ 3,809 ₹ 30,472 ₹ 3,999 ₹ 31,992
    16 Jan 2020 ₹ 3,802 ₹ 30,416 ₹ 3,992 ₹ 31,936
    15 Jan 2020 ₹ 3,801 ₹ 30,408 ₹ 3,991 ₹ 31,928

    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 January 2020 (rates per gram of 24 karat gold)

    Parameters Gold price (24 karat)
    January 1 Rate Rs.3,922 per gram
    January 19 Rate Rs.4,019 per gram
    Highest Rate in January Rs.4,125 per gram on 8 January
    Lowest Rate in January Rs.3,922 per gram on 1 January
    Overall Performance Decline

    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.

    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

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    Read more on Gold

    News About Hyderabad Gold Rate

    • 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

    • Price of Gold drops by Rs.1,300 due to decreased local demand and global economic slowdown

      Gold prices struggled in the country on 11 September 2019 along with the price of silver which continued to fall. On MCX, gold futures recorded a marginal increase at Rs.38,580 per 10 grams but was down compared to last week’s Rs.39,885 per 10 grams.

      Silver futures on MCX also recorded a fall by 0.51% to Rs.47,640 per kg after the metal hit a high of Rs.51,489 per kg.

      Coming to the global market, gold traded at 0.2% higher on 9 September 2019 at $1,509.81 per ounce. This was mainly due to the resumption of trade talks between the United States of America and China which resulted in downward pressure on gold prices.

      Gold has come under pressure after failing to cross the $1,555 per ounce mark, however, analysts see a positive stance of the precious metal as the U.S.-China trade concerns and the global economic slowdown are far from over.

      According to reports, in India, dealers have been offering large discounts on gold and silver ahead of the festive period. However, local demand still appears to be slow. However, it will pick up between October to December which marks the festive period in the country.

      12 September 2019

    • Gold prices increased to more than $1,500 on August 20

      On 22 August 2019, gold prices rose to more than $1,500 after recovering from the previous session, where there was slide by over 1%. On 19 August 2019, spot-gold fell to a near one-week low by hitting $1,492.10. However, per ounce spot gold prices increased by 0.7% on 20 August 2019 to hit $1,505.68.

      Before Monday’s reduction, gold prices reached a six-year high earlier in the month due to the trade war concerns between the US and China. There were expectations for more cuts in the interest rates, therefore, the yield curve of the US inverted. This was the first time since 2007 that the yield curve inverted. According to Bob Haberkorn, RJO Futures senior market strategist, many investors in the US have been spooked since the yield curve inverted. The US Fed’s policy meeting, which was held on 21 August 2019, was scanned by many investors. There was pressure on bond yields and the dollar due to low-interest rates in the US. The main reason for the 1.2% drop in prices on 19 August 2019 was because of the shift towards assets that are riskier. The drop has been the biggest in over a month. However, so far this month, gold prices have increased by over $100, seeing a 17% gain.

      22 August 2019

    • Gold prices reach a record high

      In line with global gold prices, gold prices in India reached a record high on Wednesday. The All India Sarafa Association stated that on Wednesday, gold prices rose by Rs.150 to close at Rs.35,870 per 10 grams.

      In Delhi, gold of 99.9% purity and 99.5% purity gained Rs.150 each. Sovereign gold prices increased by Rs.100 and closed at Rs.27,500 per eight grams.

      Globally, gold prices increased on the expectation that major central banks would ease their monetary policies. Also pushing the price of gold further were the rising tensions in the Middle East – pushing more investors to buy bullion since it is a safe-haven investment.

      Slow economic growth has become a concern around the world and as a result, many major central banks have reviewed or are planning to review their monetary policy stance. Adding to tepid economic growth is the fear that an unplanned Brexit could further slowdown economic growth worldwide.

      One must wait to see how all of these factors will affect the prices of precious metals.

      25 July 2019

    • Growth Risks and Dovish Monetary Policy Bolster Gold

      Gold prices steadied after an early boost was pared by a rise in equities, though economic growth fears kept interest in bullion steady.

      Spot gold traded almost unchanged at $1,416.98 per ounce while U.S. gold futures traded 1% higher at $1,420.90 per ounce.

      Global market indices rose as expectations of a dovish monetary stance by the U.S. Fed Reserve grew due to weak economic growth.

      Gold prices dropped briefly but prices are slated to remain high as bullion’s safe-haven appeal stays consistent. The recent escalation in tensions between Iran and the United States as well as a drop in U.S. bond yields stoked uncertainty among investors.

      3 July 2019

    • Gold prices fall marginally as people look to U.S.–China trade talks

      U.S. President Donald Trump stated that a trade deal with China could be in the works. The U.S. President and the Chinese President are scheduled to meet this weekend.

      President Trump also stated that if the talks fell, he was prepared to impose tariffs on almost all remaining Chinese products.

      In the light of this news, holdings of SPDR Gold Trust (the world’s largest gold-backed exchange traded fund), fell by 0.22%. U.S. gold futures were 0.3% lower at $1,411 per ounce.

      According to a marketing strategist, if the talks between the United States and China fail, the support for gold could increase.

      A look at other precious metals showed that silver prices rose 0.1% higher to $15.25 per ounce, palladium rose to $1,527 per ounce, and platinum fell by 0.3% to close at $811.41.

      28 June 2019

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