Hyderabad: The gold rates in Hyderabad, which recently experienced a significant decline, have rebounded today ahead of the US Federal Reserve rate announcement.
Over the past two days, prices surged by 0.68 percent, with 22-carat and 24-carat gold increasing by Rs 490 and Rs 450 per 10 grams, respectively.
Current Gold Rates in Hyderabad:
- 22-carat gold: Rs 66,150 per 10 grams
- 24-carat gold: Rs 72,160 per 10 grams
Previously, the rates had dropped to Rs 65,700 for 22-carat gold and Rs 71,670 for 24-carat gold.
Overall, gold rates in Hyderabad have declined by 0.5 percent this month. The recent dip in gold prices, both locally and globally, was attributed to reduced gold buying by China.
However, with investors now believing that a previously anticipated Fed rate hike has been ruled out, gold prices have started to recover. Despite this, the likelihood of a rate cut remains slim due to persistent inflation.
The future trend of gold rates will depend on various factors, including the Federal Reserve’s decisions on rate cuts, the ongoing Russia-Ukraine conflict, and stability in the Middle East.
Following are the gold rates in various cities in India:
| Indian cities | 22-carat gold rates of 10 grams (in Rs) | 24-carat gold rates of 10 grams (in Rs) |
| New Delhi | 66300 | 72310 |
| Kolkata | 66150 | 72160 |
| Mumbai | 66150 | 72160 |
| Hyderabad | 66150 | 72160 |
| Chennai | 66800 | 72870 |
