HYDERABAD: Gold, silver prices surge amid Iran-Israel war
HYDERABAD:Â Gold and silver prices have surged sharply following the Iran-Israel war, reversing a recent period of stability and decline. Market experts say global uncertainty has triggered a spike in bullion rates and warn that prices may rise further.
After remaining stable for some time, gold and silver prices have climbed by thousands of rupees in a single day, leaving buyers shocked. Traders said geopolitical tensions, inflation, the rupee’s fall against the dollar and recessionary trends abroad have pushed prices higher.
Silver prices have crossed ₹3 lakh per kg. In a single day, silver rose by ₹25,000 per kg, while gold jumped by ₹7,000 per 10 grams.
Wedding season buyers cut purchases
With the wedding season underway, customers visiting jewellery shops are scaling down purchases due to high prices. Traders said footfall has dipped again as buyers postpone or reduce their orders.
As of 6am, rates recorded in the Hyderabad bullion market were as follows:
22-carat gold (10 grams): ₹1,54,630
24-carat gold (10 grams): ₹1,68,710
Silver (1 kg): ₹3,20,000
Market analysts said prices are unlikely to ease in the near term.
