Gold and silver prices declined for the second consecutive day, putting pressure on the domestic bullion market. A sharp fall in international spot gold prices and fluctuations in the US dollar influenced the downward trend. As a result, investors and buyers are closely watching the market.
In the global market, spot gold slipped from $5,000 per ounce to around $4,930 per ounce. This correction directly impacted prices in India. Moreover, changes in the dollar index added to the volatility in bullion trading.
Hyderabad Bullion Market Sees Sharp Decline
In the Hyderabad bullion market, 24-carat gold prices fell by ₹1,530 per 10 grams today. The yellow metal now trades at ₹1,54,910 per 10 grams. Over the past two days, fine gold prices have dropped by a total of ₹2,840 per 10 grams.
Similarly, 22-carat gold prices declined by ₹1,400 per 10 grams. The price now stands at ₹1,42,000 per 10 grams.
Silver Prices Also Slide
Silver prices also witnessed a significant fall. The price of one kilogram of silver currently stands at ₹2,65,000 in Hyderabad. The decline in both gold and silver reflects global market trends and cautious investor sentiment.
Market analysts suggest that international price movements and currency fluctuations will continue to influence domestic bullion rates in the coming days. Buyers are now waiting to see whether prices will stabilise or decline further.
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