Hyderabad gold prices ease as buyers return
HYDERABAD: Gold and silver prices, which had remained out of reach for consumers until recently, have shown a gradual decline over the past week, offering some relief to buyers.
Though prices have not fallen sharply, they are lower compared to recent peaks. This has created a relatively favourable window for purchasing gold and silver, traders said.
Jewellery shops see renewed footfall
Jewellery outlets, which earlier saw customers walk away after checking prices, are now witnessing increased buying activity. Traders said consumers who had postponed purchases are returning to stores as prices soften.
However, a section of buyers is still waiting, expecting further reductions in prices.
Global cues influence bullion prices
Market experts attributed fluctuations in gold and silver prices to several factors, including volatility in international markets, inflationary trends, rupee depreciation against the dollar, global economic slowdown, recent decisions taken by former US president Donald Trump, and trade agreements being negotiated between the US and other countries.
Experts cautioned that prices could rise again in the coming months and advised buyers with immediate requirements to consider purchasing now. Waiting for further declines could prove costly if prices rebound, they said.
Prices steady amid wedding season demand
With the wedding season and a series of auspicious events ahead, there are indications that prices could firm up again. Against this backdrop, some buyers are opting to purchase limited quantities of gold and silver.
As of 6 am on Wednesday, prices in the Hyderabad bullion market remained steady.
The price of 22-carat gold stood at ₹1,43,550 per 10 grams, while 24-carat gold was priced at ₹1,56,600 per 10 grams. Silver was trading at ₹2,85,500 per kg.
Prices may fluctuate later in the day, traders said.
