As the wedding season in Hyderabad heats up in 2025, gold rates have surged past the Rs 1 lakh mark for the first time. This increase comes amidst global uncertainties, including fears of a trade war and a weakened US dollar, which have pushed investors toward the safe-haven metal.
In just under four months, the price of gold has jumped by over 29%. As of now, the price of 10 grams of 22-carat gold in Hyderabad stands at Rs 92,900, while 24-carat gold has soared to Rs 101,350. This marks a significant rise from April 8, when the rates for 22-carat and 24-carat gold were Rs 82,250 and Rs 89,730, respectively. Over just 10 days, gold prices surged by 12.9%.
Compared to the beginning of the year, when 22-carat gold was priced at Rs 71,500 and 24-carat gold at Rs 78,000, the yellow metal has seen an increase of Rs 23,350 per 10 grams.
Despite the busy wedding season, this spike in gold prices has prompted many consumers to delay their purchases. Some residents, like Hussain from Bahadurpura and Jameel Khan from Attapur, have chosen to hold off on buying gold in hopes that prices will decrease.
This rise in gold rates is not just limited to Hyderabad, but is also being observed in major cities like Mumbai, Delhi, and Bengaluru. The surge is largely attributed to growing demand for gold as a secure investment amidst an escalating trade war and the weakening of the US dollar. The dollar index recently hit a three-year low, making gold more attractive for investors holding other currencies, further driving up demand.
While gold prices continue to climb, many are watching closely, waiting for the market to stabilize before making their purchases.
