Hyderabad gold prices fall sharply amid global uncertainty
HYDERABAD: Some analysts expect gold prices to decline further, while others say the recent fall could reverse and trigger a fresh rally. Market watchers attribute the recent slide to developments in international markets. They warn that once prices begin to rise, they may become difficult to contain.
Experts have also advised investors in gold and silver not to withdraw their investments under any circumstances.
Five-day pause in Iran–US conflict lifts market sentiment
A five-day pause in the Iran–United States conflict has improved sentiment in West Asia. With tensions easing, stock markets have shown signs of recovery. Market experts say this could eventually push gold and silver prices higher.
They noted that ongoing conflict had reduced investor appetite for fresh purchases, leading to a sharp fall in bullion prices. Analysts believe prices may rise again once the situation stabilises.
Sharp fall in bullion prices despite active trading
The wedding season is currently inactive, with purchases limited to those who had fixed auspicious dates earlier. However, activity continues in the bullion market.
Gold and silver prices recorded a steep decline across the country on Tuesday. The price of gold fell by ₹10,000 per 10 grams, while silver dropped by ₹20,000 per kilogram.
At 6 am on Tuesday, prices in the Hyderabad bullion market stood at ₹1,24,340 for 10 grams of 22-carat gold and ₹1,35,640 for 10 grams of 24-carat gold. Silver was trading at ₹2,29,900 per kilogram.
