Telangana Hyderabad - Gold Glitters as rates hit all-time High
The price of gold in hyderabad has surpassed 66 thousand for the first time. The prices of yellow metal are on the rise not just in hyderabad but also globally.
Gold rates in hyderabad jumped by 5% in March
The yellow metal's costs have increased by five percent only this month. The current prices in the city for 10-gram gold weighing 22 carats and 24 carats are Rs 60,940 and Rs 66,470, respectively. 22-carat and 24-carat 10-gram gold were selling for Rs 57,900 and Rs 63,160 in the city on march 1.
Why do yellow metal rates surge?
The spike in gold prices in the city and other regions of the world has several causes. The most prominent ones are the uncertainty in the economy of different nations worldwide. Investors are also being pushed by geopolitical concerns to store their money in gold as it is seen as a haven. In addition to Fed interest rates, geopolitical events will determine the future path of gold prices in hyderabad and other regions of the world.
Gold futures contracts with an april 5, 2024 expiration date were actively traded on the Multi Commodity Exchange (MCX) on march 20, 2024. The cost of these contracts was Rs 65,684 for every 10 grams. Furthermore, the MCX priced silver futures contracts with an expiration date of May 3, 2024, at Rs 75,330.