Gold and Silver Prices Retreat in Hyderabad Following Record Highs
Hyderabad witnessed a modest downturn in gold and silver prices on Tuesday, signaling a pause in their recent meteoric ascent.
Hyderabad: Hyderabad witnessed a modest downturn in gold and silver prices on Tuesday, signaling a pause in their recent meteoric ascent.
After an uninterrupted ten-day climb, during which gold prices soared past Rs 72,500 per 10 grams for 24-carat purity, a notable correction of Rs 1,150 was observed.
On April 12, gold rates reached an unprecedented high of Rs 73,310, peaking at Rs 74,340, before settling at Rs 72,160 per 10 grams for 24-carat gold on Tuesday.
Similarly, silver prices, after a sustained upward trajectory, experienced a decline. Starting from April 6, when silver per kilogram was valued at Rs 87,000, prices peaked at Rs 90,500 on April 16. However, on Tuesday, silver prices settled at Rs 86,500, marking a reversal in trend.
The fluctuating trends in gold and silver prices across India, including Hyderabad, are influenced by a myriad of factors, with notable emphasis on the fluctuating value of the rupee against the dollar and the global demand for precious metals.
