Hyderabad: After rising by over one percent in December, gold rates in Hyderabad started declining in January.
In the past nine days, the rates of the yellow metal have declined by over Rs 1000. It was witnessed in both 22-carat and 24-carat gold.
Current gold rates in Hyderabad
In the city, the current gold rates for 10 grams of 22-carat and 24-carat are Rs 57,600 and Rs 62,830 respectively.
As the rates for 22-carat and 24-carat gold were Rs 58,750 and Rs 64,090 respectively on January 2, they declined by 1.95 and 1.96 percent.
Prices in other Indian cities
Gold rates have not only declined in Hyderabad but also in other Indian cities. Here are the rates in some cities.
| Cities | Rate of 10 grams of 22-carat gold (in rupees) | Rate of 10 grams of 22-carat gold (in rupees) |
| Hyderabad | 57600 | 62830 |
| Chennai | 58100 | 63380 |
| Mumbai | 57600 | 62830 |
| Kolkata | 57600 | 62830 |
| New Delhi | 57750 | 63980 |
The reason behind the decline is the US dollar and treasury yields.
The future trends of gold rates in Hyderabad and across the world depend on various factors, including the decision of the US Federal Reserve on rate cuts and stability in the Middle East, among others.
