Hyderabad: After witnessing a sharp decline over the past two days, gold prices bounced back slightly on Wednesday, giving a mild shock to buyers who were expecting further relief. In Hyderabad, the price of 24-carat gold increased by ₹760 per 10 grams, bringing the rate to ₹1,21,580. Similarly, 22-carat gold rose by ₹700 per 10 grams, reaching ₹1,11,450.
This sudden uptick comes after gold prices had dropped significantly on Monday and Tuesday, raising hopes among customers for a continued fall. However, the latest revision has reversed that trend, signaling renewed volatility in the bullion market. Experts attribute the price rise to global market fluctuations and a strengthening of the U.S. dollar.
Following gold’s movement, silver too registered an increase in prices. After a steep fall of ₹5,000 per kilogram on Tuesday, silver gained ₹1,000 today, taking the rate to ₹1,66,000 per kilogram. Similar trends in gold and silver prices were observed across both Telangana and Andhra Pradesh markets.
