Hyderabad: Gold prices ease slightly, remain near record highs
HYDERABAD: Gold prices eased marginally in domestic markets on Tuesday but remained close to record highs, offering little relief to buyers. Prices continue to stay elevated amid persistent global uncertainty and strong safe haven demand.
In the international commodities market, spot gold rose nearly 2%, reflecting investor caution despite a slight cooling in crude oil prices. Signals of de-escalation emerged over the weekend after US President Donald Trump ruled out military action over Greenland and spoke of peace initiatives. However, these were offset by renewed tensions in West Asia.
The deployment of American forces in the Middle East, Iran’s counter moves, and Tehran’s firm control over the strategically crucial Strait of Hormuz have sustained uncertainty. US naval movements near Iran, Israeli statements, and Iranian responses together pushed gold prices to an all-time high.
Investors favour gold and silver
Market participants continue to increase exposure to gold and silver, citing their status as safe-haven assets. Weakness in equity markets has driven investors towards precious metals. The decline in the US dollar has further supported prices.
Central banks have also stepped up gold purchases, with China and Brazil among the major buyers. With gold prices surging, jewellery prices in retail markets have risen sharply as well. Experts said investor interest in gold as a secured asset is likely to continue in the near term.
Outlook remains bullish
Market estimates suggest gold and silver prices could rise further in the coming days. The price of gold has already crossed ₹1.50 lakh per 10 grams, while silver prices have moved past ₹3 lakh per kg.
On Tuesday, gold prices in the domestic market slipped slightly, while silver prices edged up. Silver rose by ₹100 per kg.
As of 6 am, prices recorded at the Hyderabad bullion market were:
22-carat gold (10 grams): ₹1,48,440
24-carat gold (10 grams): ₹1,61,940
Silver (1 kg): ₹3,87,000
