Gold rates in Hyderabad have fallen by about two percent this month, reaching a one-month low as of today. The current rates for 10 grams of 24-carat and 22-carat gold are Rs 62,070 and Rs 56,900, respectively.
Several causes have contributed to the decline in gold prices, with the worldwide market playing a considerable role. India, being a net importer of gold, is especially vulnerable to global trends.
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The latest US inflation data is one of the key variables influencing gold prices around the world. The higher-than-expected inflation data have caused investors to adjust their expectations for early Federal Reserve interest rate decreases. This adjustment has contributed to a drop in gold prices not only in Hyderabad but also across the country.
The current rates in various major metropolitan areas are as follows:
| Cities | Rate of 10 grams of 22-carat gold (in rupees) | Rate of 10 grams of 22-carat gold (in rupees) |
| Hyderabad | 56900 | 62070 |
| Chennai | 57400 | 62840 |
| Mumbai | 56900 | 62070 |
| Kolkata | 56900 | 62070 |
| New Delhi | 57050 | 62220 |
The future trajectory of gold rates in Hyderabad and other cities will be determined by a variety of factors, including the US Federal Reserve’s interest rate policy, geopolitical stability, and domestic considerations like as demand during the next wedding season. Investors and consumers will closely monitor these factors to make informed judgments in the unpredictable gold market.
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