Gold Rates Dip To 15 Day Low

Gold rates in Hyderabad have fallen by over five percent after reaching record highs, with the current rates at Rs 87,550 and Rs 95,510 per 10 grams of 22-carat and 24-carat gold. Last month, gold prices surged beyond Rs 1 lakh, breaking records nine times. The prices had started at Rs 71,500 and Rs 78,000 per 10 grams at the beginning of the year, reflecting a 22% increase so far.

Following the recent decline, many potential buyers, who had postponed their purchases in anticipation of a price drop, are now considering buying. Experts remain optimistic about future gold trends, with projections for the price to reach up to USD 3,700 per ounce by the end of 2025. The surge in gold prices this year has been driven by global uncertainties, trade wars, and the weakening US dollar, which has increased demand in other countries.

Despite the recent dip, global market trends, including trade deals and geopolitical factors, suggest continued upward momentum for gold prices.