Today gold price in Hyderabad edges up
HYDERABAD: Gold and silver prices, which had seen a steep fall over the past week, rebounded on Thursday, offering mixed outcomes for investors who had entered the market at higher levels.
Over the last several days, gold prices declined sharply, while silver rates witnessed an unexpected slide. The price of silver, which had crossed ₹4 lakh per kg earlier, fell to around ₹3.20 lakh. Gold prices also dropped steeply after touching close to ₹2 lakh per 10 grams, correcting by nearly 40% from recent peaks.
The sudden correction led to losses for several investors, particularly those who had borrowed money to invest in gold and silver. Others, however, benefited by selling their existing holdings during the volatility.
Gold remains popular investment choice
Gold continues to attract strong interest, especially among women, though buying trends now cut across age groups and professions. Software engineers and other professionals have increasingly viewed gold and silver as safe investments. However, the recent volatility has underlined that even these markets are not immune to sharp corrections.
Market experts said that despite short-term fluctuations, gold and silver tend to offer returns over the long term and rarely result in sustained losses.
Wedding season boosts demand
With the start of the Magha month and the onset of the wedding season, demand for gold and silver is expected to rise. Prices moved up on Thursday across the country, with silver gaining ₹100 per kg.
As per rates recorded at 6 am at the Hyderabad bullion market, the price of 22-carat gold stood at ₹1,46,160 per 10 grams, while 24-carat gold was priced at ₹1,59,450 per 10 grams. Silver was quoted at ₹3,20,100 per kg.
Traders said prices could see further changes by the afternoon, depending on market movements.
