Hyderabad Gold Rates Rise on May 24: 24K Hits Rs 9,808 Per Gram
On May 24, Hyderabad gold prices increased. 24K gold at Rs 9,808 per gram. Find current rates for 22K, 18K, and historical price trends.
image for illustrative purpose
Gold rates in Hyderabad showed a noticeable rise on Saturday, with the price of 24 karat gold reaching Rs 9,808 per gram, marking an increase of Rs 55 compared to the previous day. The rate for 22 karat gold stood at Rs 8,990 per gram, registering a gain of Rs 50. Similarly, 18 karat gold was priced at Rs 7,356 per gram, reflecting a rise of Rs 41.
The upward trend in gold rates aligns with ongoing global market conditions. Local gold prices are influenced by international bullion values, central bank reserves, interest rate movements, inflationary pressures, and shifts in the global economy. Price movements in Hyderabad are therefore closely linked to broader macroeconomic factors and changes in international demand and investment patterns.
The cost of 10 grams of 24 karat gold rose to Rs 98,080 from Rs 97,530, while 100 grams increased to Rs 9,80,800 from Rs 9,75,300. For 22 karat gold, the rate for 10 grams climbed to Rs 89,900 from Rs 89,400, and 100 grams rose to Rs 8,99,000 from Rs 8,94,000. In the 18 karat segment, the price for 10 grams moved up to Rs 73,560 from Rs 73,150, while 100 grams reached Rs 7,35,600, up from Rs 7,31,500.
Over the past ten days, gold rates in the city have shown consistent fluctuations. On May 23, the rate for 24 karat gold was Rs 9,753 per gram, and Rs 8,940 for 22 karat. On May 22, the prices had slightly increased to Rs 9,791 and Rs 8,975 respectively. Earlier in the month, on May 8, the highest prices were recorded at Rs 9,960 for 24 karat and Rs 9,130 for 22 karat gold. The lowest rates were seen on May 15, when 24 karat dropped to Rs 9,393 and 22 karat fell to Rs 8,610 per gram.
Across the month of May, gold rates have followed an upward trajectory. On May 1, 24 karat gold was priced at Rs 9,573 and 22 karat at Rs 8,775. As of May 24, these rates have risen by 2.45 per cent, showing a clear positive movement for investors and buyers.
Over longer durations, the average price trends in Hyderabad reflect a steady increase. The 10-day average for 24 karat gold stood at Rs 9,607.90, while the 30-day average was Rs 9,692.47. For 22 karat, the 10-day and 30-day averages were Rs 8,807 and Rs 8,884.47 respectively. Over the last year, 24 karat gold in the city averaged Rs 8,071.21, while five years ago it was at Rs 5,976.64.
These rates are indicative and may vary slightly based on local jewellers' margins, applicable taxes such as GST and TCS, and other market levies.
