Gold prices climbed sharply once again in the domestic market, hitting fresh record highs on Monday. In the Hyderabad bullion market, the price of 10 grams of 24-carat gold rose to ₹1,37,430, marking an all-time high.
At the same time, 22-carat gold, commonly used for jewellery, reached ₹1,25,850 per 10 grams. The steady rise in prices has added pressure on buyers, especially ahead of the festive and wedding season.
Silver prices also followed the upward trend. The price of one kilogram of silver jumped to ₹1,96,948, reflecting strong demand and global market support.
Market experts attribute the surge in domestic prices to developments in the international market. Globally, gold prices touched around $4,340 per ounce, while silver traded above $63 per ounce. The weakening of the US dollar has further supported gains in precious metals.
Bullion analysts said expectations around US Federal Reserve interest rate moves, along with continued gold purchases by central banks worldwide, have boosted investor confidence. Rising investments in gold and silver exchange-traded funds (ETFs) and ongoing geopolitical uncertainties have also pushed prices higher.
With global cues remaining strong, experts believe gold and silver prices may stay firm in the near term, keeping investors and consumers closely watching market movements.
