Hyderabad: In welcome news for jewellery buyers and investors, gold rates and silver prices have cooled sharply after witnessing a steep rally in recent days. Over the last three days, gold prices have fallen by ₹3,850, while silver has seen a massive single-day drop of ₹17,200 per kg, easing pressure on buyers across India.
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Gold Rates Today in Hyderabad
The Hyderabad bullion market reflected a clear correction in prices:
- 24-carat gold (10 grams): ₹1,39,150
(Down from nearly ₹1.43 lakh two days ago) - 22-carat gold (10 grams): ₹1,28,850
Despite the recent dip, market sources say gold prices are still up nearly 75% over the past year, keeping long-term investors cautious.
Also Read: Hyderabad Horror, Cab Driver Kills Elderly Woman for Gold, Takes Body to AP and Dumps It in Godavari
Silver Prices See Sharp Correction
Silver witnessed heavy volatility and sharp losses after touching record highs:
- Silver price drop: ₹17,200 per kg
- Current silver price: ₹2,40,800 per kg
- Earlier peak: Above ₹2.50 lakh per kg
In the international market, spot silver is trading at USD 72.93 per ounce, down nearly 8%, even though silver prices have surged about 138% this year.
MCX Update: Silver and Gold Attempt Recovery
On the Multi Commodity Exchange (MCX):
- Silver March futures: Up 4.08% at ₹2,33,700 per kg
- Gold February futures: Up 0.59% at ₹1,35,744 per 10 grams
This rebound comes after intense selling pressure and high volatility in the previous trading session.
Why Did Silver Prices Fall So Sharply?
Market analysts attribute the sudden fall in silver prices to multiple factors:
- Margin hikes by global exchanges
- Profit booking after record highs
- Thin holiday trading volumes
- Lower liquidity in silver compared to gold
Experts note that silver lacks a strong reserve system, making it more vulnerable to sudden price swings.
Silver Prices Today in Major Indian Cities (Dec 30)
| City | Per Gram (₹) | Per KG (₹) |
|---|---|---|
| Delhi | 240 | 2,40,000 |
| Chennai | 258 | 2,58,000 |
| Bengaluru | 240 | 2,40,000 |
| Mumbai | 240 | 2,40,000 |
| Pune | 240 | 2,40,000 |
| Kolkata | 240 | 2,40,000 |
| Hyderabad | 258 | 2,58,000 |
| Ahmedabad | 240 | 2,40,000 |
| Coimbatore | 258 | 2,58,000 |
| Visakhapatnam | 258 | 2,58,000 |
| Vijayawada | 258 | 2,58,000 |
| Patna | 240 | 2,40,000 |
What Should Buyers and Investors Do Now?
Market experts caution that short-term volatility may continue, especially in silver, due to tight supply and fragile liquidity. However, the current dip is seen as a good buying opportunity for long-term investors and jewellery buyers.
After days of record-breaking highs, gold and silver prices have finally taken a breather, offering much-needed relief to buyers. With gold down by ₹3,850 and silver correcting sharply, all eyes will now be on global cues and commodity market movements in the coming days.
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