Hyderabad: As the wedding season approaches, the demand for yellow metal has seen a significant uptick in the local markets of Hyderabad, pushing the prices of 24-carat gold beyond the ₹65,000 mark per 10 grams.
Local Market Trends
Jewellers in popular hubs like Karwan, Somajiguda, and Abids report a steady stream of customers despite the price hike. "Families are buying now, fearing further increases closer to their event dates," says a local store owner in Indranagar.
Global Factors Influencing Local Prices
While local demand plays a role, the primary drivers remain global economic indicators and currency fluctuations. The weakening of the Rupee against the Dollar often makes imported gold more expensive.
"Gold remains a safe haven and a cultural necessity in our region. We expect sales to remain robust through the season." - Industry Expert
Buyers are advised to check for hallmarking and compare making charges across different brands before making significant purchases.