Gold prices rise in Hyderabad today amid demand
HYDERABAD: Gold prices rebound after falling for the past few days, driven by fresh demand as the wedding season begins.
Market experts say higher purchases and seasonal demand push up prices. They had earlier expected prices to fall further after a prolonged decline. However, contrary to projections, rates rise again, causing concern among consumers.
Gold and silver prices have climbed steadily over the past two to three days, adding to buyer disappointment.
Central bank purchases cited
Union Finance Minister Nirmala Sitharaman said large-scale buying by central banks worldwide gives fresh momentum to gold prices. She spoke to reporters after the Reserve Bank of India central board meeting.
She said gold and silver imports are not at alarming levels. The Reserve Bank of India is monitoring developments closely. Assessing the impact of recent changes in US tariffs on the Indian economy would be premature, she added.
Trade circles say international uncertainties also support the rise in bullion prices. They advise buyers to consider purchases now.
Today’s bullion rates
With the wedding season underway, demand for gold and silver increases. Traders say limited imports also contribute to the rise.
As of 6 am in the Hyderabad bullion market, 22-carat gold costs ₹1,47,910 per 10 grams, up ₹2,000. The price of 24-carat gold stands at ₹1,61,360 per 10 grams. Silver trades at ₹3,00,100 per kg, up ₹10,000.
