Hyderabad: Gold prices fall as buyers return to market
HYDERABAD: Gold prices have been declining steadily over the past week, bringing some relief to buyers. After a prolonged surge in gold and silver rates earlier, prices have now stabilised and begun to ease.
Gold, silver rates decline despite Iran–Israel tensions
Market observers said the ongoing tensions between Iran and Israel have not pushed precious metal prices higher as many had expected. Instead, gold and silver prices have either remained stable or moved slightly lower since the conflict began.
Traders said the absence of a sharp rise in prices despite geopolitical tensions is an unusual development. They described the trend as positive for buyers and the jewellery trade.
Jewellery sales rise as wedding demand brings buyers
Jewellery stores said footfall has started increasing as customers return to the market. Some buyers remain cautious because prices are still high, but purchases are continuing due to weddings and other ceremonies.
“Customers are buying jewellery required for functions and marriages,” traders said, adding that the moderate decline in prices has improved sales.
Investors, however, remain cautious. In earlier periods, the number of people investing in gold and silver often exceeded those purchasing jewellery, but traders said investment demand has slowed.
According to the Hyderabad bullion market, prices recorded at 6 am on Saturday were:
22-carat gold (10 grams): ₹1,47,290
24-carat gold (10 grams): ₹1,60,680
Silver (1 kg): ₹2,89,900
Silver prices declined by ₹100 per kg.
Traders said prices could change later in the day depending on market movements.
