Big Jump In Gold Rates In Hyderabad; 24K/100 Grams Gold Rises By Rs 11,500; Check Latest Prices On February 4

Big Jump In Gold Rates In Hyderabad; 24K/100 Grams Gold Rises By Rs 11,500; Check Latest Prices On February 4

Gold prices in Hyderabad surged massively by Rs 11,500 per 100 grams in 24K on Tuesday, February 4, 2025, tracking record-high rallies of international and domestic bullion. On the other hand, silver prices in Hyderabad plunged by Rs 1,000 in 1Kg. Gold rates in Hyderabad and other cities of India are currently fueled by uncertainty related to the trade war due to Donald Trump’s stringent tariff on China, Mexico and Canada.

Gold Prices In Hyderabad:

In Hyderabad, 10 grams of gold price climbed by Rs 1,150 in 24K to Rs 85,200, while 10 grams of gold rose by Rs 1,050 to Rs 78,100 in 22K. Also, 10 grams of gold in 18K increased by Rs 860 to Rs 63,900.

Furthermore, 100 grams of gold witnessed a whopping Rs 11,500 upside to Rs 8,52,000 in 24K. Meanwhile, the price soared by Rs 10,500 to Rs 7,81,000 in 22K. Finally, 100 grams of gold jumped by Rs 8,600 to Rs 6,39,000 in 18K.

Silver Prices In Hyderabad:

The latest uptrend in gold was not the same case with silver prices in Hyderabad. Silver prices plummeted on February 4thm by Rs 1,000 to Rs 1,06,00 per 1kg. The cheapest silver in Hyderabad is Rs 106, which is expensive compared to cities like Mumbai, Kolkata, Bangalore, Pune, and even Delhi.

The gold rates in Hyderabad depends on the global gold rates, which are affected by many international factors including inflation, change in global prices, central bank gold reserve, fluctuating rates of interest, jewelry markets. Meanwhile, Silver prices in the international markets depends on a whole lot of factors, including inflation prospects, movement of the dollar and liquidity conditions in the globe.

MCX Gold, Silver Prices:

MCX gold futures traded lower by Rs 303 or 0.4% to Rs 82,987 per 10 grams after hitting an intraday high of Rs 83,290 per 10 grams. This bullion had an expiry of April 2025.

Meanwhile, MCX silver price dipped marginally to Rs 94,240 per 1kg, after hitting an intraday high of Rs 94,393 per 1kg. This silver future will expire in March 2025.

Spot Gold Prices:

Gold steadied around $2,810 per ounce on Tuesday, holding near an all-time high reached in the previous session as tariff jitters prompted safe-haven spending. China announced retaliatory tariffs on U.S. goods after President Donald Trump’s 10% levy on Chinese imports came into effect. Meanwhile, Trump late Monday agreed to delay duties on Mexico and Canada for a month after the leaders of both countries took steps to appease his concerns about border security and drug trafficking. The inflationary impact of tariffs could further bolster gold’s appeal as a hedge against price pressures and geopolitical uncertainty, as per Trading Economics data.

Should You Buy Gold In India?

As per Nirmal Bang’s technical report dated February 4th, gold prices are expected to trade positive. One can buy at 83000 with a stop loss of 82700 for the target at 8345083700. For silver, the brokerage stated that silver prices are expected to rise. One can buy at 93800 with a stop loss of 93000 for the target at 94750-95300.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.

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Original news source Credit: www.goodreturns.in

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