Hyderabad: Gold prices in city have surged to record highs, with 24-carat gold crossing the Rs 80,000 mark per 10 grams. The price today for 24-carat gold is Rs 80,070, while 22-carat gold is priced at Rs 73,400. This reflects a consistent upward trend throughout October, with a 4.11% rise in prices since the beginning of the month. Initially, 22-carat gold was priced at Rs 70,500 and 24-carat at Rs 76,910. The daily increase of Rs 400 for 22-carat and Rs 430 for 24-carat gold has contributed to these record-breaking prices.
Gold Price Trends Across Major Indian Cities
Hyderabad’s sharp rise in gold rates is mirrored across other major Indian cities, including Mumbai, Delhi, Bengaluru, and Kolkata, where prices for 10 grams of 24-carat gold range around Rs 80,070 to Rs 80,220.
| City | 22-carat (10 grams) | 24-carat (10 grams) |
| New Delhi | Rs 73,550 | Rs 80,220 |
| Kolkata | Rs 73,400 | Rs 80,070 |
| Mumbai | Rs 73,400 | Rs 80,070 |
| Hyderabad | Rs 73,400 | Rs 80,070 |
| Chennai | Rs 73,400 | Rs 80,070 |
Market Impact
Gold’s traditional role as a safe-haven investment has driven increased consumer interest. However, the skyrocketing prices may eventually dampen domestic demand. Concerns are mounting that the continued upward trend could reduce the purchasing power of many buyers, especially those who rely on gold for weddings or as an investment option.
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