Gold prices in India continued to decline sharply on Wednesday, November 13, 2024. So is the case with gold prices in the southern city, of Hyderabad. While prices of 22, 24 and 18 carats, Hyderabad witnessed a sharp upside in silver prices. The performance of gold is down despite international gold prices picking up momentum after falling for three consecutive days. Prices are ahead of US inflation data scheduled later in the day.
Gold Prices In Hyderabad:
24K Gold Prices: 100 grams of gold dipped by Rs 4,400 to Rs 7,68,500 on Wednesday, while 10 grams of gold dropped by Rs 440 to Rs 76,850. Also, 8 grams and 1-gram gold prices slipped by Rs 352 and Rs 44 to Rs 61,480 and Rs 7,685 respectively.
22K Gold Prices: In this carat, yellow metal in 100 grams fell by Rs 4,000 to Rs 7,04,500 on November 13, while 10 grams of gold is lower by Rs 400 to Rs 70,450. 8 grams of gold is also down by Rs 320 to Rs 56,360, meanwhile, 1 gram of gold inched lower by Rs 40 to Rs 7,045.
18K Gold Prices: Coming to 18 carats, gold is available at Rs 5,76,400 in 100 grams, which is a decline of Rs 3,300 in a single day. Further, 10 grams of yellow metal tumbled by Rs 330 to Rs 57,640, while 8 grams of gold went down by Rs 264 to Rs 46,112 and the price was lower by Rs 33 to Rs 5,764 per 1 gram.
Gold Prices In Hyderabad In 10 Days:
In this city, gold prices in Hyderabad, have continued to dip for three consecutive days, while they have been volatile for the past 10 days.
24K/100 grams fell by Rs 4,400 on November 13, following a huge decline of Rs 14,700 on November 12, and Rs 6,000 on November 11. The prices were unchanged on November 10, but down by Rs 1,100 on November 9.
Gold prices did see a jump of Rs 9,100 on November 8, after nosediving by Rs 17,900 on November 7. But soon they entered into red territory. Earlier, gold prices were up by Rs 1,100 on November 6th, but down by Rs 1,600 on November 5th, and muted on November 4th.
Silver Prices In Hyderabad:
Silver prices climbed back to more than Rs 1,00,000 mark on November 13. 1 kg silver in the city jumped by Rs 1,000 to Rs 1,01,000. While 100 grams and 10 grams of silver is up by Rs 100 and Rs 10 to Rs 10,100 and Rs 1,010 respectively. The cheapest silver is 1 gram which is up by Re 1 to Rs 101. Lastly, 8 grams of silver is up by Rs 8 to Rs 808.
MCX Gold, Silver:
The prices of gold are down despite MCX gold surging by Rs 84 or 0.11% to trade at Rs 74,985 per 10 grams. In the early trade, gold futures with December expiry touched the day's high of Rs 75,236 per 10 grams.
Meanwhile, silver prices were at Rs 89,900 up by Rs 573 or 0.64%. They surged to hit an intraday high of Rs 90,290 in early deals.
BUY/SELL Gold?
As per Nirmal Bang, gold prices are expected to pull back till 75500-75700. One can buy with a stop loss of 74700. While silver prices are expected to rise. One can buy at 89400 with a stop loss of 88700 for the target at 90200-90800.
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