Hyderabad Gold Prices Break Records – Is It Time to Buy or Wait?
Hyderabad sees record gold prices on September 2. Find live rates, market movement, and price trends for precious metals.
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Gold prices in Hyderabad reached a new high on Tuesday, with 24-carat gold priced at Rs 10,609 per gram, marking an increase of Rs 21 compared to the previous day. The price of 22-carat gold rose to Rs 9,725 per gram, a gain of Rs 20, while 18-carat gold stood at Rs 7,957 per gram, up by Rs 16.
The movement in gold prices continues to reflect trends in the international bullion market. Factors including inflation, fluctuations in global gold reserves, interest rate changes, and currency exchange rates play a role in determining daily rates. Local jewellery demand and investor sentiment also contribute to market variations.
On September 2, the price of 8 grams of 24-carat gold was Rs 84,872, while 10 grams was Rs 1,06,090. A purchase of 100 grams of 24-carat gold would cost Rs 10,60,900. For 22-carat gold, the cost of 8 grams was Rs 77,800, 10 grams was Rs 97,250, and 100 grams stood at Rs 9,72,500. The 18-carat gold price was Rs 63,656 for 8 grams, Rs 79,570 for 10 grams, and Rs 7,95,700 for 100 grams. These rates exclude GST, TCS and other applicable charges. Buyers are advised to confirm final prices with local jewellers before making purchases.
Gold prices have shown significant movement over the past ten days. On September 1, 24-carat gold was priced at Rs 10,588 per gram, while on August 31, it was Rs 10,495 per gram. Rates recorded on August 30 were Rs 10,495, and August 29 saw a price of Rs 10,331. On August 28, gold was at Rs 10,260, while August 27 registered Rs 10,244. On August 26, prices moved to Rs 10,206, followed by Rs 10,151 on August 25 and Rs 10,162 on August 24. Prices for 22-carat gold during these days ranged between Rs 9,315 and Rs 9,725 per gram.
Looking at averages, 24-carat gold has been priced at Rs 10,354.10 per gram over the past 10 days and Rs 10,226.70 over the past 20 days. Over a 30-day period, the average price is Rs 10,227.53, while the 60-day average is Rs 10,106.05. In the past year, 24-carat gold has averaged Rs 8,846.19 per gram, while the three-year average stands at Rs 7,069.14. For 22-carat gold, averages over these periods range from Rs 9,491 in the past 10 days to Rs 5,186.75 over the past seven years.
Analysts expect price adjustments in the near term to follow international trends, monetary policies, and demand in both domestic and global markets.
