Live
- Modi’s 100-day agenda is a political strategy: DCM D K Shivakumar
- T20 World Cup: Police snipers deployed in New York stadium ahead of SL v SA match
- Understanding World Environment Day: Celebrated on June 5
- J&K records highest voter turnout in last four decades, says ECI
- Let Rajarajeshwara punish him: Kumaraswamy on Shivakumar's black magic remarks
- On Lok Sabha result eve, Maha politicians hide butterflies in stomach with bravado
- Tight security measures enforced in Bengaluru ahead of counting
- OnePlus Nord 4 May Launch in India Next Month: Expected Features
- Ansu Fati ‘want to succeed at Barcelona’ after Brighton loan exit
- Making health insurance accessible and affordable with monthly premiums
Hyd gold rates hit record high, exceed Rs 75k for 10g
Hyderabad: Gold rates in Hyderabad on Monday soared to an all-time high, surpassing the Rs 75,000 mark. The prices for 10 grams of 22-carat and...
Hyderabad: Gold rates in Hyderabad on Monday soared to an all-time high, surpassing the Rs 75,000 mark. The prices for 10 grams of 22-carat and 24-carat gold now stand at Rs 68,900 and Rs 75,160, respectively.
So far this month, the prices of gold have surged by 5.1 per cent. On May 1, the rates for 10 grams of 22-carat and 24-carat gold were Rs 65,550 and Rs 71,510, respectively.
The rise in gold rates in Hyderabad and globally can be attributed to a buzz around the US Federal rate cut. The possibility of low interest rates makes financial instruments less attractive for investors compared to gold, which is considered a safe investment.
Furthermore, geopolitical tensions, particularly in the Middle East over the Israel-Hamas conflict and the Russia-Ukraine war, are contributing to the increase in gold prices.
Marriage season is one of the most important domestic factors in India. In the midst of India's wedding season, demand for gold in Hyderabad and other domestic markets remains strong, resulting in a rise in rates.
