Live
- Cong to snatch reservation from Dalits, says Union Minister Pralhad Joshi
- Congress tied hands of our soldiers, we gave them full freedom to retaliate: PM Modi
- Big B on being honoured with Mangeshkar Award: ‘Abhaar aur mera param saubhagya’
- Fashion Entrepreneur Fund opens up for pre registrations
- ICEA shares blueprint for India to become a global leader in chip value chain
- Meera Deosthale describes marriage as a ‘beautiful union yet huge responsibility’
- 1 in 4 Indians came across political content that turned out to be deepfake: Report
- Summer diet tips for mom-to-be to stay hydrated and healthy
- Rajender Rao Congress candidate for Karimnagar
- How stress can affect you
Gold rates dips in Hyderabad after Diwali
For representational purpose
After a blockbuster Dhanteras and Diwali, gold prices dropped significantly in the city on Friday. The 22-carat gold was retailing at Rs 46,100 per 10 grams, the lowest level since October.
Hyderabad: After a blockbuster Dhanteras and Diwali, gold prices dropped significantly in the city on Friday. The 22-carat gold was retailing at Rs 46,100 per 10 grams, the lowest level since October. On Thursday it was priced at Rs 46,700. The price declined by Rs 600.
On the other hand, the gold rate for 24-carat (10 grams) was Rs 50,290 on Friday. On Thursday it was costing Rs 50,950. There was a sharp decline of Rs 660.
Ever since Diwali, the price of 22-carat gold decreased by Rs 910 per 10 grams, while 24-carat gold decreased by Rs 1,000. However, silver prices were stable with 10 grams retailing at Rs 64,000.
"The price of gold here is witnessing a steep decline as the United States Federal Reserve slowed down the pace of its aggressive rate hike. However, with the wedding season in a fortnight, gold demand has surpassed pre-Covid levels. The high demand is expected to continue till December," said a city-based jeweller.
Despite the gold price decline in the domestic market, both gold and silver recorded a hike on the Multi Commodity Exchange (MCX). The prices have also increased in the international market. Currently, the price of an ounce of gold is USD 1,648.10, while the price of an ounce of silver is trading at USD 19.84.
