Gold Price Hits Rs 1 Lakh in Hyderabad; 22-Carat Gold Up by Rs 2,750 in a Day

Gold prices saw a sharp rise today, creating a buzz among buyers and investors across Telangana and Andhra Pradesh. In Hyderabad, the price of 10 grams of 24-carat gold increased by Rs 1,649, reaching an all-time high of Rs 1,00,000. Meanwhile, 22-carat gold, commonly used for jewellery, jumped by Rs 2,750 to touch Rs 92,900 for the first time.

The trend isn’t limited to Hyderabad. Similar rates are being recorded in major cities like Vijayawada and Visakhapatnam, indicating a consistent hike across the two Telugu states. Silver also joined the rally, with the price of one kilogram climbing to Rs 1,11,000.

Experts point to several reasons behind this spike, strong international gold prices, currency fluctuations, increased investment interest, and the beginning of the wedding season in India. With more weddings around the corner, the demand for gold is expected to rise further, potentially pushing prices even higher.

Traders and consumers are advised to stay alert, as the market may see further volatility in the coming days. For those looking to invest in gold, this could be both a time of caution and opportunity.