Gold Rate in Hyderabad Today
Hyderabad is a densely populated city, with deep cultural and historical roots. This causes a huge demand for ethnic wear among women, which is incomplete without Gold Jewellery. The Gold Prices in Hyderabad have been rising at a good pace in the last few years. This is directly affected due to global gold rates,that depend on global production, the strength of the currency, internal demands, the prices of other commodities such as oil, and so on.
Gold in Hyderabad is usually used in ethnic Jewellery for women and is also used for investment. This is because the returns from gold have ideally been assured and reliable. As investors like to keep a track of Gold Rates in Hyderabad, here are all the details you need.
22 & 24 Carat Gold Rate in Hyderabad today (per gram)
22K Gold - ₹ 3,609
24K Gold - ₹ 3,609
Gold Price Trends in Hyderabad
Despite some fluctuations, the Gold Prices in Hyderabad have been rising steadily, due to the increasing demand. As a long term investment, the value of gold has remained steady. Here are details about the gold rates in the last few months -
| Month | 22K Gold | 24K Gold |
| December | ₹ 3,651 | ₹ 3,830 |
| November | ₹ 3,712 | ₹ 3,898 |
| October | ₹ 3,553 | ₹ 3,728 |
| September | ₹ 3,696 | ₹ 3,880 |
Factors Affecting Gold Rates in India
Apart from the increasing demand for Gold Jewellery and investment, there are many other factors responsible for the increase in gold rates.
● Rupee Value V/S US Dollars
The international trades are usually paid off with US dollars. When this amount gets converted to rupees, the value of rupees against US Dollars makes a huge difference. The higher the value of the rupee is, the lower the rates of gold are.
● Logistics
The total amount of time spent in transporting the gold from the importer to the consumer is another major factor affecting Gold Prices in India. The higher the time is, the higher the price of gold gets.
● Impact has GST
GST has made Tax imposition much easier on Gold when compared to the previous imposition (10% import duty, 1% excise duty and 1.2% VAT). The 3% tax rule has not only removed the excise duty and VAT, creates consistency in all the regions of India.
Anticipations Rate of Gold In The Future
Gold Rates cant be precisely anticipated. But they are roughly estimated to continue rising at a similar pace, however, there could be minor unexpected dips too. This is done by carefully analysing factors like -
● Current trends
The current trading rates and trends are an important factor that helps in estimating the rate of gold in the near future.
● Forex Rate
It's also important to consider the rate at which Indian rupee is being exchanged to help anticipate what the gold rates in the future could be.
● Gold Taxes
The changes in duty taxes and GST could also help determine if the gold rates are to increase or decrease in the future.
Things To Keep in Mind Before Buying Gold Jewellery in Hyderabad For Investment
Before you make a gold purchase for investment purposes, it's essential to keep a few things in mind, like -
It is important to consider the cost at which you purchase gold, which could be higher due to levied charges for acquiring gold, and additional charges for storing them.
This is the most crucial factor affecting the cost and the increase in the value of gold. The purity of gold is measured in Carats, the purer the gold is, the higher the cost is.