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|Gold price in Hyderabad in April 2018||Gold price in Hyderabad in March 2018||Gold price in Hyderabad in February 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 May 2018 (rates per gram for 24 karat gold)
May 2018 - Week 1 (1st - 6th)
- Trading commenced in Hyderabad with gold priced at Rs.3,114 per gram on the 1st as the US dollar hovered near to its three-and-half-month high from the previous session.
- With investors and traders speculating ahead of the central bank monetary policy meeting, the US dollar strengthened. This led to gold prices declining over the next few days.
- The precious metal prices were recorded holding at Rs.3,103 per gram on the 3rd with gold plummeting to near four-month lows in the international bullion market.
- The dollar, however, lost against other apex currencies following dovish remarks by the US Fed Reserve to gradually increase interest rates as expected. This led to gold rates in Hyderabad rising towards the end of the week.
- When trading concluded for the week, the yellow metal was recorded trading at Rs.3,136 per gram on the 6th amid the weakened US dollar and poorly-performing equity markets.
May 2018 - Week 2 (7th - 13th)
- In the Telangana capital city, gold opened at Rs.3,136 per gram when the second week of May began.
- On the 8th, prices in Hyderabad, prices dropped to Rs.3,134 per gram as a steady rise in the US dollar and the treasury yields curbed gold demand.
- The 9th saw gold rates rise to Rs.3,134 per gram as demand was almost flat with there being little stimuli for growth.
- Inflation data, which was released on the 10th provided the much needed stimuli for bullion investors. The data turned out to be weaker than expected, which caused gold rates to rise to Rs.3,142 per gram on the day.
- The next few days continued on in this vein and investors made the most of the US dollar’s fall.
- Gold traded at Rs.3,145 per gram on the 11th before closing at Rs.3,154 per gram as the day ended.
- The 12th recorded a significant rise as well, with the metal trading at Rs.3,166 per gram amidst, owing to a struggling dollar.
- When the week ended, gold was still seen trading at Rs.3,166 per gram as demand flattened after hitting the previous day’s high.
May 2018 - Week 3 (14th - 20th)
- Gold trading began for the week with the precious metal trading at Rs.3,147 per gram on the 14th with steady demand from local jewellers and retailers on account of the weakened dollar and poorly-performing equity markets.
- With the dollar plunging to its lowest level in a week, gold rates surged to Rs.3,213 per gram on the 15th at the domestic level.
- However, with the dollar index gaining against a basket of other currencies, the greenback rebounded. This led to gold rates in Hyderabad plunging to Rs.3,120 per gram on the 16th.
- Poor domestic demand brought about by the strengthened US dollar and rising equities resulted in gold prices dropping to Rs.3,105 per gram on the 17th.
- Rates remained unchanged at Rs.3,105 per gram the next day amid the poor trend overseas.
- The week came to an end with the yellow metal trading relatively higher at Rs.3,124 per gram on the 20th following an incline in safe haven demand amid deteriorating US-Italian political relations on the global front.
Trend of Gold Rate in Hyderabad for April 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|April 1 Rate||Rs.3,072 per gram|
|April 30 Rate||Rs.3,123 per gram|
|Highest Rate in April||Rs.3,153 per gram on 19 April|
|Lowest Rate in April||Rs.3,064 per gram on 6 April|
|Overall Monthly Performance||Incline|
April 2018- Week 1 (1st-7th)
- Echoing trends seen across other Indian cities, gold rates in Hyderabad started off strong and rose towards the middle of the week before seeing a minor dip.
- The yellow metal traded at a stable Rs.3,072 per gram on 1 April as demand from industry bolstered demand.
- With markets apprehensive of a trade war between the United States and China, investors sought out gold as a hedge against losses on the stock markets.
- Gold price in Hyderabad surged to Rs.3,091 per gram on 3 April on consistent demand from overseas, which encouraged local industry to increase orders.
- Gold rate in Hyderabad peaked at Rs.3,100 per gram on 4 April amidst a renewing of rhetoric between China and the U.S., though retail demand declined due to the high cost of local gold.
- Equity markets calmed after reassurances by the U.S. government on tensions with China, and this resulted in the Dollar rising and gold prices falling to Rs.3,066 per gram on 5 April.
- Demand for gold improved as markets fell following the renewal of trade tensions with China as the week drew to a close, resulting in gold prices rising to Rs.3,075 per gram on 7 April.
April 2018- Week 2 (8th -15th)
- Gold was seen trading at Rs.3,075 per gram when the second week of April began on the 8th.. Rates in Hyderabad were the same on the 9th as well because demand for the metal stable in most Asian markets.
- Gold prices seemed to dwindle on the 9th as a possible trade war between China and the US began to take hold. The yellow metal traded at Rs.3,073 per gram on this day.
- Domestic demand surged up on the 11th and the metal traded at Rs.3,099 per gram before rising again to Rs.3,129 per gram on the 12th.
- However, the 13th saw gold prices decline as the Federal Reserve’s anticipated interest rate hike pushed global bullion demand down. This consequently pushed rates down to Rs.3,106 per gram on this day.
- On the 14th, gold prices in Hyderabad moved up to Rs.3,119 per gram before rising to Rs.3,142 per gram on the 15th as reports confirmed a joint attack on Syria by allied US and European forces. This caused markets to plummet and gold prices to rise as a result.
April 2018 - Week 3 (16th - 22nd)
- The week began in Hyderabad with the yellow metal trading at Rs.3,124 per gram on the 16th as the US dollar weakened with world markets mulled over the US-led missile strike on Syria.
- Gold rate in Hyderabad surged to Rs.3,129 per gram on the 17th after the US dollar index lost against a basket of currencies with the greenback plummeting to its lowest level in three weeks.
- The 18th, however, saw gold rates in Hyderabad rising to Rs.3,142 per gram with investors and traders capitalising on the bullion despite the easing global tensions.
- Prices rose for the fourth consecutive session to Rs.3,153 per gram the next day with safe-have demand on the rise amid inflationary concerns following a strong rally by base metals.
- On the 20th, gold prices dropped to Rs.3,146 per gram as demand stabilised with global political tensions easing down in world markets.
- Though prices remained untouched at Rs.3,146 per gram on the 21st, an increase in demand brought about by the local wedding season led to bullion rates surging to Rs.3,151 per gram on the 22nd.
April 2018 - Week 4 (23 - 30):
- When the last week of April opened for trading, gold was priced at Rs.3,140 per gram.
- The 24th saw gold prices rise to Rs.3,146 per gram as investor demand went up amid increased buying from local jewellers and other concerned parties.
- Gold continued to trade at Rs.3,140 per gram on the 24th of April before rising to Rs.3,146 per gram the next day as demand went up.
- On the 26th, gold prices in Hyderabad went down slightly to Rs.3,144 per gram but declined further on the 27th to trade at Rs.3,129 per gram.
- During the 28th, gold prices rose to Rs.3,140 per gram which then fell to Rs.3,123 per gram on the 29th penultimate day of the week and month.
- As demand seemed to decline, gold rates went down to Rs.3,114 per gram on the final day of this week and month.
Trend of Gold Rate in Hyderabad for March 2018 (rates per gram for 24 karat gold)
|Parameters||Gold price (24 karat)|
|Gold Rate on 1st March 2018||Rs.3,043 per gram|
|Gold Rate on 31st March 2018||Rs.3,072 per gram|
|Highest Rate in March||Rs.3,105 per gram on 24 and 25 March|
|Lowest Rate in March||Rs.3,030 per gram on 19 March|
|Overall Monthly Performance||Incline|
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.
March 2018 - Week 4 (19 - 25):
- Gold rates in Hyderabad reflected trends across other major Indian cities, with a steady rise in the price of gold observed.
- The week began with gold priced at Rs.3,030 per gram on 19 March, with prices rising on the back of positive market cues as well as strong demand from local jewellers.
- Prices fluctuated briefly as international demand rose due to a steady drop in the dollar rate, though local demand dipped due to fewer orders from industrial units.
- There was a minor dip in the international price of gold as the dollar recovered ahead of the Fed meeting on monetary policy, though local demand helped keep prices from fluctuating too wildly.
- Steady demand led to prices rising throughout the week, with gold trading at Rs.3,081 per gram on 24 March, in spite of investors turning away from bullion buys due to steady markets.
- Gold price in Hyderabad jumped to Rs.3,105 per gram on 24 March as the implementation of tariffs on steel and aluminium led to fears of a trade war, prompting investors to invest in safe-haven assets like gold.
- There was no change in price as the week ended on 25 March, with gold trading at Rs.3,015 per gram.
March 2018 - Week 5 (26 - 31):
- Trading opened in Hyderabad with the bullion priced at Rs.3,095 per gram on the 26th with the US greenback and equities strengthening after negotiations with China eased down concerns of a possible trade war.
- The dollar, however, lost ground with tensions rising between the US and Russia and gold was recorded trading at Rs.3,098 per gram on the 27th.
- With the dollar index dominating against other apex currencies amid firm equities, demand for the metal plunged. This led to gold rates in Hyderabad dropping to Rs.3,084 per gram on the 28th.
- The 29th saw rates plummeting further to Rs.3,067 per gram amid the strengthening US dollar and equities in the international market.
- With the dollar rates remaining steady from the previous session, gold price in Hyderabad dropped to Rs.3,066 per gram on the 30th.
- Trading concluded for the month with the precious metal prices holding at Rs.3,072 per gram on the 31st and Hyderabad registering an incline of 0.95% in gold rates during the course of the month.
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.
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 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 is the preferred choice for metal commodity in Hyderabad. Gold rates in Hyderabad follow the trend of all major cities in the country. Buying gold is very easy in the city, as there are lots of stores and dealers who are into selling and buying gold. Investments in gold have become a major component of individual investments in commodities in the city.
Jewelry: Gold jewelries are popular among the residents of Hyderabad. The city offers some of the best options in gold jewelry in the country. Hyderabad, along with Chennai and Bangalore, forms a big portion of gold jewelry demand in southern India.
Coins and bullion: Gold coins can be purchased from various banks in the city. These are also popular with residents in the city, as coins can be purchased in varying purities and weights as well as from a number of places including private dealers. Bullions can be purchased from the large dealers based in the city. These are also available in varying purity and weights, however bullions are generally available in larger quantities of gold.
Commodity exchanges: Gold as a commodity can be traded in various exchanges such as MCX, NSEL or NCDEX. These exchanges are used by residents of Hyderabad for investing in contracts of gold of varying tenures. The contracts are available as spot contracts and futures contracts.
There are plenty of places with history where you can buy gold in Hyderabad. Stores like Jagdamba Pearls, MOR Jewellers, Krishna Pearls and Jewellers are just a few of them. On the other hand, if you want to buy gold you can go with the Multi Commodity Exchange (MCX), which lets you buy 22 karat and 24 karat gold.
Importing gold isn’t possible for everyone and can only be done by a few designated importers such as banks, who sell it to various dealers at a margin in order to recoup the money they have spent. Once they have decided on the margins, banks sell the gold to retailers, who in turn design jewellery and sell them to consumers.
Future rates, as the name suggest, are the rates at which gold is likely to be traded in the future.There are a number of factors that go into deciding future gold rates in a particular city. These factors are as follows:
- Current trends: Although there are no given parameters to decide future rates of gold, current trading rates will be taken into account when traders set the price. Besides this, traders will also look at cues from the global scene and keep track on any gold-related news and that of the US dollar. Analysts will also look at silver rates to ascertain what a future trend could look like.
- Forex rate: The rate at which Indian rupee is being exchanged will also play a part in what future rates could look like.
Although, gold price trends looks bleak for the 2017 in most cities, the case with Hyderabad is slightly different. This is vastly because of the value and demand the metal has in the city. Other aspects that makes a positive trend possible are the decisions that will be taken by US President Donald Trump, all of which are creating massive fluctuations in the market. So, in all likelihood, gold could offer a comparatively good return as long as you decide to sell it within the right time period.
Like every commodity, there’s a tax that has to be paid on gold as well, of which there are three. Below are all of them mentioned for you.
- Capital Gains Tax: Gold trades, in the form of ETFs, incur taxes depending on when and how they are sold. For instance, if gold is sold within 12 months of buying it, the profit will be taxed at 10%. On the other hand, if gold is sold after 36 months, capital gained through the sale will be taxed at 15%.
- Wealth Tax: Gold is considered wealth, and hence it will be taxed. If wealth exceeds more than Rs.30 lakh, a wealth tax of 1% needs to be paid. The valuation for the gold will be done based on the rates on 31st March.
24 karat gold rate (Rs/gram)
24 karat gold price in Hyderabad at the start of the year was Rs.2,696. This price gradually increased over the month and peaked at Rs.2,865 on 21st January. Prices stayed at the same level for the rest of the month, and gradually declined in the months of February and March to reach a low of Rs.2,623 on 18th March. Gold prices saw a mini rally over the next two months and again peaked at Rs.2,802 on 18th May, before ending the month at Rs.2,738.
22 karat gold rate(Rs/gram)
22 karat gold rate in Hyderabad at the start of 2015 was Rs.2,524. Prices rallied throughout the month, and were at peak value of Rs.2,678 on 21st January. Prices declined over the next month, and reached a low of Rs.2,445 on 18th March. Over the months of April and May, gold rate in Hyderabad saw a gradual increase and came to a high of Rs.2,622 on 18th May. Gold price at the end of the month was Rs.2,558.
Also Check Gold Price in NearBy Cities of Hyderabad
|Gold Rate In Warangal||Gold Rate In Vijayawada||Gold Rate In Visakhapatnam|
|Gold Rate In Guntur||Gold Rate In Nellore||Gold Rate In Kurnool|
|Gold Rate In Rajahmundry||Gold Rate In Kakinada||Gold Rate In Proddatur|
|Also Know: Silver Rate in Hyderabad|
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