Telangana Hyderabad - Gold prices surge amid falling demand
Gold prices in hyderabad increased significantly on Saturday, february 3, affecting both 22-carat and 24-carat gold prices. The current price for 10 grams of 22-carat gold is Rs 58,300, which represents a Rs 150 rise. Simultaneously, the price for 10 grams of 24-carat gold is selling at Rs 63,600, up Rs 160. The current silver price in hyderabad is Rs 78,000 per kilogram.
While gold prices in the worldwide market fluctuate, the local market has also seen a shift. In the weeks preceding the wedding season, gold prices had fallen, hovering at Rs 60,000 for 10 grams of 24-carat gold and Rs 55,000 for 10 grams of 22-carat gold. It is crucial to note that the prices shown above were noticed at 8 a.m. and may alter later in the day. Investors and fans are urged to monitor real-time rates.
Meanwhile, indian gold consumption declined 4% to 266.2 tonnes in the October-December quarter, as lower jewelry demand outweighed increasing coin and bar sales for investment purposes, according to the World gold Council. According to a World gold Council analysis issued on Wednesday, India's gold consumption would fall 3% in 2023 to 747.5 tonnes, the lowest level since 2020, as rising prices lower the desire for jewelry.
While gold prices in the worldwide market fluctuate, the local market has also seen a shift. In the weeks preceding the wedding season, gold prices had fallen, hovering at Rs 60,000 for 10 grams of 24-carat gold and Rs 55,000 for 10 grams of 22-carat gold. It is crucial to note that the prices shown above were noticed at 8 a.m. and may alter later in the day. Investors and fans are urged to monitor real-time rates.
Meanwhile, indian gold consumption declined 4% to 266.2 tonnes in the October-December quarter, as lower jewelry demand outweighed increasing coin and bar sales for investment purposes, according to the World gold Council. According to a World gold Council analysis issued on Wednesday, India's gold consumption would fall 3% in 2023 to 747.5 tonnes, the lowest level since 2020, as rising prices lower the desire for jewelry.