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Today Gold Rate In Hyderabad

Updated on : 21 Jun 2024

gold rate today

22-carat gold Rate

₹ 6,640

(Per Gram)

gold price today

24-carat gold Rate

₹ 7,244

(Per Gram)

22 Carat & 24 Carat Compare Gold Rates In Hyderabad (Today & Yesterday)

CaratGold Rate YesterdayGold Rate TodayPrice Change
22 Carat₹ 6,620₹ 6,640₹ 20
24 Carat₹ 7,222₹ 7,244₹ 22

Today 24 Carat Compare Gold Rate In Hyderabad (Today & Yesterday)

Gram24 Carat Gold Price Yesterday24 Carat Gold Price TodayPrice Change
1 GRAM₹ 7,222₹ 7,244₹ 22
8 GRAM₹ 57,776₹ 57,952₹ 176
10 GRAM₹ 72,220₹ 72,440₹ 220
100 GRAM₹ 7,22,200₹ 7,24,400₹ 2,200

Today 916 KDM Gold Rate In Hyderabad (Today & Yesterday)

Gram916 KDM Gold Rate Yesterday916 KDM Gold Rate TodayPrice Change
1 GRAM₹ 6,620₹ 6,640₹ 20
8 GRAM₹ 52,960₹ 53,120₹ 160
10 GRAM₹ 66,200₹ 66,400₹ 66,400
100 GRAM₹ 6,62,000₹ 6,64,000₹ 2,000

Today 22 Carat Compare Gold Price In Hyderabad (Today & Yesterday)

Gram22 Carat Gold Price Yesterday22 Carat Gold Price TodayPrice Change
1 GRAM₹ 6,620₹ 6,640₹ 20
8 GRAM₹ 52,960₹ 53,120₹ 160
10 GRAM₹ 66,200₹ 66,400₹ 66,400
100 GRAM₹ 6,62,000₹ 6,64,000₹ 2,000

22 & 24 Carat Gold Rates In Hyderabad for Last 10 Days (1 Gram)

DatePure Gold - 24 KStandard Gold - 22 K
Jun 19, 2024Rs. 6,620 (0) Rs. 7,222 (0 )
Jun 18, 2024Rs. 6,620 (-10) Rs. 7,222 (-11 )
Jun 17, 2024Rs. 6,630 (-20) Rs. 7,233 (-22 )
Jun 16, 2024Rs. 6,650 (0) Rs. 7,255 (0 )
Jun 15, 2024Rs. 6,650 (60) Rs. 7,255 (66 )
Jun 14, 2024Rs. 6,590 (-25) Rs. 7,189 (-27 )
Jun 13, 2024Rs. 6,615 (0) Rs. 7,216 (0 )
Jun 12, 2024Rs. 6,615 (30) Rs. 7,216 (32 )
Jun 11, 2024Rs. 6,585 (15)Rs. 6,585 (15)
AXIS NEO

Historical Price of Gold Rates In Hyderabad

Gold Rates22 Carat24 Carat
1 st June rateRs. 6,650 Rs. 7,255
20th June rateRs. 6,640Rs. 7,244
Highest rate in JuneRs. 6,760 on June 7 Rs. 7,375 on June 7
Lowest rate in JuneRs. 6,570 on June 8Rs. 7,167 on June 8
Over all performanceFallingFalling
% Change-0.15%-0.15%
Gold Rates22 Carat24 Carat
1 st May rate Rs. 6,555 Rs. 7,151
31st May rateRs. 6,670 Rs. 7,276
Highest rate in MayRs. 6,890 on May 20Rs. 7,516 on May 20
Lowest rate in MayRs. 6,555 on May 1Rs. 7,151 on May 1
Over all performanceRisingRising
% Change+1.75%+1.75%
Gold Rates22 Carat24 Carat
1 st April rateRs. 6,360 Rs.6,938
30th April rateRs. 6,655 Rs.7,260
Highest rate in AprilRs. 6,815 on April 19Rs. 7,434 on April 19
Lowest rate in AprilRs. 6,335 on April 2Rs. 6,911 on April 2
Over all performanceRisingRising
% Change+4.64%+4.64%

From time immemorial, gold has been one of the most popular investment instruments for Indians. Even with rising prices, gold is viewed as a safe mode for investment.

Measurement of gold

The purity of gold is measured in karats, whereas the weight of gold is measured in troy ounces (1 troy ounce = 31.1034768 grams).

What is a karat?

A karat is used to denote the purity of gold. 24-karat gold is pure gold, but it is extremely malleable. Hence, it is mixed with a metal like copper or silver to make jewelry. One karat is equal to 1/24th of the whole. So, if a piece of gold is marked 18-karat, it means that it is made of 18 parts gold and 6 parts copper.

24 karat is 99.9% of gold while 22 karat is 91.6% is pure. That is why the price of 24 karat gold is higher than 22 karat gold.

Following is the fineness scale which is used while defining the purity of gold:

24 K = 99.9% Pure

22 K = 91.6% Pure

18 K = 75% Pure

14 K = 58.5% Pure

10 K = 41.7% Pure

Fun fact: Gold is extremely supple and can be manipulated accordingly. A single ounce of gold, which is about 28 grams, can be stretched into a gold thread 8 kilometers long. Now that’s a stretch! Gold threads are used in embroidery stitching and various other fields.

While the demand for gold has a role to play in its fluctuating price, there are several other factors that determine the price of gold.  Following is an overview of some of the factors that affect the price of gold in Hyderabad:

Value of the US dollar

Since gold is priced in U.S. dollars, the value of the dollar largely impacts the price of gold. A falling dollar pushes up gold prices and vice versa. Conversely, a strengthening U.S. dollar (that often comes about because of a growing U.S. economy) pushes down gold prices. Note that gold and the U.S. dollar have an inverse relationship. When the US dollar is strong, investors invest in the currency rather than in the precious metal.

Central Banks

The central banks of various countries control the money supply, oversee monetary policy and currency, set interest rates and attempt to manage inflation. Central Banks also buy gold, largely because it acts as a hedge against the US dollar (gold and the US dollar have an inverse relationship). Holding physical gold also strengthens a nation’s currency. This affects gold prices.

Supply and Demand

Simple supply-and-demand can influence physical gold prices. As with any product, increased demand along with a low supply causes the price to go up. Conversely, an overabundance of a product or service coupled with a feeble demand can cause the price to spiral down. The same principle applies to gold. Traditionally, there is a surge in gold demand during festive seasons, leading to a rise in gold prices.

Inflation

When inflation rises, the value of the currency goes down and therefore people invest in gold in order to hedge themselves from falling currency value. Hence, during times of inflation, especially over a longer period, gold becomes a valuable tool to hedge against economic uncertainties.

Fixed Deposit interest rates

When fixed deposit interest rates rise, naturally, investors flock to invest in investment instruments that yield a fixed return. This is unlike gold which does not guarantee a fixed return. So, demand takes a back seat with prices falling. Alternatively, when fixed-income investment interest rates fall, investors prefer investing in gold as an alternative investment option. Thus, the demand for gold rises, pushing up the price.

Seasonal demand 

Seasonal demand pushes the gold price higher. Again, this is related to the supply and demand principle. Traditionally, in India, the demand for gold rises during auspicious festivals, thereby pushing up the price of gold in Hyderabad.

Apart from the above-mentioned factors, when demand for gold increases in the international market, the price of gold naturally increases in Hyderabad too. It is important to note that gold prices can also vary across different states in India. This is due to the transportation cost associated with importing and transport of gold. Again, demand and supply influence the price of domestic gold.

Why do gold prices in Hyderabad differ from other cities?

India is one of the largest importers of gold in the world. Gold is a precious commodity in Hyderabad that is imported from overseas. Cities that have ports have the chance of accessing gold much quicker. Due to the number of logistics involved, gold prices may vary from state to state and in different cities.

Buy gold in Hyderabad

Gold is one of the most sought-after commodities in India, especially during festive seasons, when jewelers announce discounts and sales. Gold holds an important part in Indian culture, which is why it is much sought after.

Commonly, gold is bought as a form of investment due to its ever-increasing price. Following are some of the factors to keep in mind if you're looking to buy gold in Hyderabad.

The purity of gold: The first thing to keep in mind is the purity—measured in karats—of gold. 24 karat is 99.9% of pure gold while 22 karat is 91.6% pure. Following is the fineness scale which is used while defining the purity of gold:

24 K = 99.9% Pure

22 K = 91.6% Pure

18 K = 75% Pure

14 K = 58.5% Pure

10 K = 41.7% Pure

Understand the Hallmarking of Gold: While buying gold, it is important to understand how hallmarking works. The Bureau of Indian Standards (BIS) operates a hallmarking scheme, whereby representatives visit jewelers and assess their gold quality. If the gold meets the required quality, the jeweler is granted a license. Only jewelers granted a licensee can get their gold jewelry assayed and hallmarked for purity by BIS-recognized Assaying and Hallmarking Centers in India.

Check the price of Gold: India is one of the largest importers of gold in the world. All gold supplies are imported from overseas. This means the price of gold in Hyderabad is greatly influenced by the international market and currency fluctuations. Before buying gold, always check the per gram price on a reputed website like CreditMantri. It is important to note that the price of gold fluctuates on a daily basis.

Disclaimer: The information on the prices of the gold rate is merely indicative and is susceptible to change with market value and is provided on an as-is basis. The information contained here is not intended as investment advice. CreditMantri is in no way responsible for any loss arising from the use of data contained on this website.

Frequently Asked Questions: Gold Rates in Hyderabad Today

1. What is the difference between 22K and 24K gold jewelry?

The “K” stands for karat, which represents the purity of gold. Because pure gold is very malleable, jewelers mix it with other metals like silver or copper to make it more durable and harder. The higher the karat number, the higher the percentage of pure gold in the jewelry. 22K is 91.6 % pure gold while 24K is 99.9 % pure gold. The higher the karat, the higher the cost.

2. Which gold is better to buy, 22 karats or 24 karats?

24 K is the purest form of gold. 24 K is expensive than 22 K gold, as well as extremely pliable. Hence, if you are buying gold jewelry, 22 K is preferred by many as it lasts longer for jewelry.

3. What are the taxes when buying gold jewelry in Hyderabad?

With the introduction of Goods and Services Tax (GST) in India, the customer is required to pay 3% on the value of the gold jewelry. This is applicable where the jeweler includes the overall cost of the gold jewelry, including making costs. If the jeweler is charging you separately for making charges, then you need to pay 5% on the making charges.

4. Where can I get a regular update on gold rates in Hyderabad?

You can check online portals such as CreditMantri for the latest gold prices in Hyderabad.

5. How long does Hallmarking of gold take?

It may take approximately five to six hours to get the purity of gold checked. Once the purity of gold is established, it is hallmarked.

Gold Rate Hyderabad - Customer Reviews

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