Gold buyers across India are facing an unexpected jolt as prices surge to historic highs. Driven by strong global cues, domestic gold rates have climbed sharply, setting a new record and triggering concern among consumers.
In the Hyderabad bullion market, gold prices rose steeply. The price of 24-carat gold increased by ₹11,770 for 10 grams, reaching ₹1,78,850. Meanwhile, 22-carat gold jumped by ₹10,800 per 10 grams and now stands at ₹1,63,950. Such levels have never been seen before in the local market.
Silver prices, on the other hand, remained steady. One kilogram of silver continues to trade at ₹4,25,000, offering little relief to buyers who were hoping for a dip in precious metal rates.
Global Factors Push Gold Upward
The sharp rise in gold prices reflects strong movements in the international market. Spot gold crossed the $5,500 mark per ounce, highlighting growing investor interest worldwide. A weakening rupee against the US dollar has further pushed domestic prices upward, making imports costlier.
At the same time, global political uncertainty has increased demand for gold as a safe investment option. Investors often turn to gold during unstable periods, and the current climate has strengthened that trend. As demand rises, prices continue to move higher at a rapid pace.
Wedding Season Worries for Families
With the wedding season fast approaching in India, the surge in gold prices has added pressure on households. Gold plays a vital role in traditional ceremonies, and families usually plan purchases months. However, the current rates have made those plans far more expensive.
The burden does not end with the gold price alone. Buyers must also pay an additional 3 per cent GST along with making charges, which significantly increases the final cost. For middle-class and salaried families, this combination has become a major financial strain.
Jewellers report hesitation among customers, with many delaying purchases or opting for lighter ornaments. Some buyers are even exploring alternatives such as gold coins or rental jewellery to manage expenses.
What Lies Ahead
Market experts believe gold prices may remain volatile in the near term. Much will depend on global economic signals, currency movements, and geopolitical developments. Until stability returns, buyers may continue to face high prices and limited relief.
For now, gold’s glitter comes with a high cost, leaving consumers anxious and cautious as celebrations draw closer.
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